Peralta Creek – 2006

Quick Look

Peralta Creek – 2006

Status: Remodel of 2425 completed in 2007 conceptual plans completed for 2443
Project value: $2,500,000
Total Bedrooms (existing) : 31
Total Bedrooms (concept) : 66

2425 and 2443 Humboldt Avenue
Oakland, CA 94601

Project details   |   Project specs

Challenges

Dated and run-down apartment complex, poorly maintained, high turnover and vacancy rate, trash dumping, on site “oak forest”.

Vision

Re-position as a garden apartment complex, upgrade units, retain/stabilize on-site property management, develop adjacent property with complimentary garden complex, retain “oak forest,” take advantage of pastoral creek side location.

Result

Increased tenant stability, increased rents, plans for 20-unit project on adjacent lot that retains “oak forest” and provides creek side open space.

Project Details

Product: Medium density garden apartment complex
Approvals: City of Oakland Site and Architectural Review
Status: Remodel of 2425 completed in 2007 conceptual plans completed for 2443
Value: $2,500,000
Partners:
Ali Kashani
Lenders:
Pacific National Bank

Project specs

Number of units
2 Bedroom 12
3 Bedroom 1
4 Bedroom 1 (house on property)
Total Bedrooms (existing) 31
Total Bedrooms (concept) 66
Total Units (existing) 14
Total Units (concept) 18 additional (2 bedroom units)
Area
Residential (existing) 13,504 s.f.
Residential (concept) 16544 add’l s.f.
Density ratios
Site area 47,250 s.f.
Acres 1.3
Bedrooms/acre (existing) 26
Bedrooms/acre (concept) 58
Units/acre (existing) 12
Units/acre (concept) 29
Parking
Total (existing) 1/unit, individual garages
Total (proposed) 1/unit, covered