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October 19, 2019
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BAY AREA NEWS
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San Leandro Res Sale Comes In at Record $346k /Unit

6/06/19

Island Apartments, a 26-unit residential property in San Leandro, was acquired by Niceco LLC in a $9 mil transaction. The property is located at 16000 Mateo St, just west of I-580.

The property, which received multiple offers, traded for $346.2k per unit. We’re told that price stands as a record for highest price per unit for a commercial apartment building in San Leandro.

Cory Waxman with Colliers International represented the seller in the deal. The seller wanted to reposition their equity into a passive investment vehicle and exchanged the property into multiple Delaware Statutory Trusts (DST).





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