Empty Oakland lot with Shen Yun billboard asks $1.69 million


  • 62a74 920x920 Empty Oakland lot with Shen Yun billboard asks $1.69 million

    This empty lot east of Lake Merritt in Oakland is asking $1.695 million.

    This empty lot east of Lake Merritt in Oakland is asking $1.695 million.


    Photo: Courtesy Winkler Real Estate Group

  •  Empty Oakland lot with Shen Yun billboard asks $1.69 million

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This empty lot east of Lake Merritt in Oakland is asking $1.695 million.

This empty lot east of Lake Merritt in Oakland is asking $1.695 million.



Photo: Courtesy Winkler Real Estate Group


Ah, the Bay Area — where even an empty, grassy lot with nothing but a single Shen Yun billboard to decorate it will still cost you $1.695 million. SF Curbed reported on a new listing that appeared this week in Oakland east of Lake Merritt, near Third Avenue and on the edge of Cleveland Heights.

Listed at the nonexistent address of 0 Park Boulevard, you’ll have to provide your own apartment complex — there’s nothing actually there. However, the bare bones property is described in the listing as having “easy access to shopping, restaurants, and the magnificent walking trail around the jewel of Oakland, Lake Merritt!”

According to the listing, the seller has planning and zoning approval for a 10-unit apartment building, and the property is “exempt from rent control for 15 years!” This is in reference to California’s new rent cap law that will take effect in 2020.


RELATED: Mid-Market studio with loft: Guess how much this rents for in San Francisco

Apparently, this same lot sold just in October for a mere $580,000 — albeit without the swanky new permits advertised.

This spot is 4,806 square feet, with an offer of $353 per foot. Meanwhile, building in the Bay Area can cost up to $417 for a single square foot.

Madeline Wells is an SFGATE associate digital reporter. Email: madeline.wells@sfgate.com | Twitter: @madwells22

Article source: https://www.sfgate.com/realestate/article/Empty-Oakland-lot-with-Shen-Yun-billboard-asks-14933309.php

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