15540 Hesperian Blvd, San Lorenzo, California 94580, San Lorenzo, - bed, bath

home-pic
ACTIVE$1,080,000
15540 Hesperian Blvd, San Lorenzo, California 94580
0Bed
0Bath
Sqft
5,625Lot
Year Built
1910
Close
-
List price
$1.08M
Original List price
$1.08M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
41079969
Home ConditionFair
Features
View-

About this home

Great Commercial Investments. Prime location -Two parcels zoned as commercial. One parcel has a 3 bedroom 1 bath SFR house in front and rear Duplex with two 1 bd 1 bath units. Another parcel has 7 rooms 2 bath office/retail, currently using as Kitchen & Bathroom showroom & Storage. Adjoining to a shopping strip and across the street from Walmart. Potential to add more retail/office units. (check with Alameda county zoning/planning office. Current zoning - District Commercial - allows to build up to 5 stories, 75' high building for conditional use permit. Zoned for studio, art, dance, martial arts, music, theater, cinema of performing art, library, museum, art gallery, office, meeting facility, coffee shop, general retail, thrift store, business service, care facility, day care, hotel/motel, laundromat/dry cleaning, medical services and personal services. Value in Land.

Price History

Date
Event
Price
12/05/24
Listing
$1,080,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (79 Listings)
Beds03
Baths02
Square foot01,357
Lot Size5,6255,300
64%
Price$1.08M$840K
98%
Price per square foot$0$640.5
Built year19109755976
1%
HOA
Days on market334151
99%
Condition Rating
Fair

The property, built in 1910, is significantly aged. While some interior units, particularly one of the kitchens (white shaker cabinets, stainless steel appliances, subway tile backsplash) and a bathroom (modern vanity, vessel sink, marble-look tile), show signs of recent and tasteful updates, other areas appear more basic or inconsistent in renovation style and age. The description emphasizes the 'value in land' and commercial redevelopment potential, suggesting the existing structures, despite some updates, are not considered prime assets in their current state. The property is maintained and functional, but its overall age and mixed renovation levels across multiple units prevent it from reaching a 'Good' rating, while the visible updates keep it from being 'Poor' or 'Tear-down'.
Pros & Cons

Pros

Prime Commercial Location: Strategically located adjoining a shopping strip and directly across from a Walmart, ensuring high visibility and significant foot/vehicle traffic ideal for commercial ventures.
High Development Potential: Zoned District Commercial, allowing for substantial vertical development up to 5 stories and 75 feet high, offering significant future expansion and value creation opportunities.
Diverse Permitted Uses: The zoning permits a wide array of commercial activities, including retail, office, medical services, hospitality, and various arts/service facilities, providing exceptional flexibility for investors.
Multiple Income Streams: The property currently generates income from a residential SFR, a duplex, and a commercial office/retail space, offering immediate cash flow and diversified revenue.
Intrinsic Land Value: The description explicitly states 'Value in Land,' indicating that the underlying real estate holds significant worth, especially given its commercial zoning and development potential.

Cons

Age of Existing Structures: Structures built in 1910 are likely to require extensive renovations, modernization, or demolition, incurring significant costs and potential delays for redevelopment.
Conditional Development Approval: Achieving the maximum development (up to 5 stories) requires a conditional use permit, which introduces an element of uncertainty, additional regulatory hurdles, and potential delays.
Data Inconsistency/Mixed-Use Classification: Despite being described as a 'Commercial Investment' with commercial zoning, the property is listed as 'Residential' type and 'Single Family Residence' sub-type, which could complicate financing, legal interpretation, or marketing.

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