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September 19, 2020
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Alameda Multifamily Property Sells for the First Time in 47 Years


Jerry Wise, founder and chairman of Santa Clarita-based BRAD Management, paid $11.2 mil for Bonanza Apartments, a 52-unit ($215k/unit) apartment property in the East Bay city of Alameda. Located at 430-450 Buena Vista Ave, the two-building Bonanza Apartments were sold by a private family trust. Built in 1966, the property was last sold in 1970, making this the first time it has traded hands in 47 years.

The asset, comprised of two buildings totaling 39.2k sf, sits on two separate parcels of land. Together the buildings contain a variety of units, including: four studio units, 30 one-bed/one-bath units, 14 two-bed/one-bath units, and four two-bed/two-bath units.

On-site parking makes the property convenient for residents, with 52 open spaces, 10 covered spaces and two additional garage spaces. Amenities include an on-site laundry, swimming pool, bike storage and additional space for individual storage units.

Ryan C. Rodriguez and Brandon M. Geraldo with Collierís Multifamily Investment Services Group represented the buyer and the seller, a private family trust, in the transaction.

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