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Land On The Market In Downtown Oakland Could Be Future Residential Development

1523 Harrison in Oakland

A parking lot in Downtown Oakland has hit the market and could provide a buyer with a site for a multifamily high-rise. While there is no listing price, 1523 Harrison St. could sell for $15M to $20M, the San Francisco Business Times reports. The 0.48-acre site is zoned for a multifamily development by right up to 232 units without height restrictions. The property also could be converted to an office development. 

The owner, the Brian Booth and Ellen McGarvey Trust, is seeking an all-cash offer from experienced, well-funded investors or developers. The site does not have permits or entitlements for a future development, and the buyer would need to submit a plan and receive approvals from the city.

Colliers International Senior Vice President Sid Ewing and associate Matthew Nebel are marketing the property.