Listed by Matthew Flaherty Colliers International
$11,000,000
Est. payment /mo
2.97 Acres Lot
New
8603-8701 Hillside ST Oakland, CA 94605
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 426157391
HOA Y/N No
Lot Size 2.970 Acres
Acres 2.97
Property Sub-Type Multi Family
Property Description
The Brook Point Apartments, located at 8603-8701 Hillside Street, Oakland, CA. The property consists of two individually parceled contiguous buildings totaling 96 units located in the Castlemont neighborhood. Offered at $11,000,000, the asset presents a value-add opportunity at a scale that allows an investor to establish an immediate infill presence in Oakland's workforce housing market. Demand for attainably priced rental housing in East Oakland continues to grow, and a 19.21% loss-to-lease across the rent roll provides a defined path to efficiently capture increased rental revenue through natural unit turnover, with additional upside available through operational efficiencies. The subject properties, built in 1964, feature two adjacent buildings spanning 2.97 acres, totaling (96) residential units - (1) Studio Unit, (54) 1-Bedroom Units, (30) 2-Bedroom Units, (9) 3-Bedroom Units, and (2) 4-Bedroom Units. The properties feature an on-site laundry facility in each building, 125 parking spaces on-site, and controlled access.
Location
State CA
County Alameda
Area Oakland Zip 94621
Interior
Fireplace No
Building
Lot Description Other
New Construction No
Others
Tax ID 43461011
NEARBY SCHOOL & BUSINESS
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