387 40th, Oakland, CA 94609

Property Description

383 40th Street presents a unique opportunity to acquire and complete a substantially constructed 38-unit mixed-use residential development in Oakland’s highly desirable Temescal neighborhood. Upon completion, the four-story wood-frame building over a concrete podium is expected to contain approximately 41,108 gross building square feet, including 25,594 rentable square feet of residential space and 1,639 rentable square feet of ground-floor commercial space. The residential component will feature 38 units, while the podium level provides 38 parking spaces, bicycle storage, and commercial space. The building is elevator-served and includes interior corridors and a fifth-floor community room with an outdoor deck. Based on current observations, the project has substantially progressed through the rough stages of construction, including rough plumbing, electrical, and mechanical systems. Portions of the insulation and drywall have also been installed. The building secured and is currently dried-in and weather-tight, with no visible signs of rain or moisture damage. The property's location provides an attractive combination of transit accessibility, neighborhood amenities, and proximity to major employment and lifestyle destinations throughout the East Bay. The property is within walking distance of MacArthur BART Station and is located near the vibrant commercial corridors of 40th Street, Telegraph Avenue, and Piedmont Avenue. Temescal is recognized for its walkable neighborhood environment, diverse dining and retail offerings, and strong connectivity to surrounding Oakland.