2305 Webster st - Fully Entitled - 42% DISCOUNT FROM APPRAISAL 0.27 Acres of Residential Land Offered at $4,950,000 in Oakland, CA 94612

42% DISCOUNT FROM NOVEMBER 2024 APPRAISAL! The Mitchell Warren Team is pleased to present 2305 Webster Street in Oakland. This prime parcel is ideally located in the heart of Oakland and comes with approved plans for 197 residential units, along with 1,900 square feet of ground-floor retail space. With entitlements in place, the new owner can immediately move forward with development, making this a unique opportunity with strong potential for value creation. Additionally, the property can be expanded to 263 units through the State's density bonus program. Currently leased on a month-to-month basis, it provides in-place income while preparing for future development. This is an excellent opportunity for developers looking to capitalize on the growing demand for housing in the Bay Area.
Oakland is known for its vibrant culture, diverse community, and rapidly expanding real estate market. The Uptown Neighborhood area is central to this momentum, with new residential developments, retail spaces, and dining establishments contributing to the district’s revitalization. The property is also a block from The HIVE, a bustling hub to live, work, create, and connect. Residents will enjoy easy access to a variety of local amenities, including restaurants, shops, and cultural landmarks such as the Oakland Museum of California and the nearby Jack London Square waterfront. The property is adjacent to the Oakland YMCA and just a short distance from Lake Merritt, offering even more opportunities for outdoor recreation and relaxation. With a Walk Score of 98, this location provides an urban lifestyle where daily errands can be easily accomplished on foot. Whether for work, recreation, or leisure, 2305 Webster Street is positioned at the intersection of Oakland’s growth and energy, making it a prime location for residents seeking convenience, connectivity, and a dynamic community experience.