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8/07/19
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A 25-unit apartment property in the East Bay city of Lafayette sold for $12 mil, or $480k per unit, which we’re told shatters the previous pricing record by more than $50k per unit and $44 per square foot. The property is located at 3535 Brook St, south of Hwy 24 and just west of Moraga Rd.
Situated within the Lamorinda submarket and just blocks from Mt. Diablo Blvd and the Lafayette BART station, 3535 Brook Street is fully leased. The property features an on-site laundry, swimming pool, spacious garden, and generous parking. The site is conveniently located just a block away from Lafayette Square and the downtown shopping district, and within walking distance of local schools, library, restaurants, and other amenities.
The Mitchell Warren Team and Berger Mandel Team at NAI Northern California represented both the buyer and seller, delivering an unsolicited all-cash offer.
Lafayette is known for its pastoral rolling hills, good schools, and wealthy inhabitants. In 2016, the median household income in Lafayette was over $140,000, more than twice the statewide average and about two and half times the national median.
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