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2/05/21
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A nine-unit multifamily property located just steps from Lake Merritt in Oakland sold for $4.225 mil, which works out to over $469k per unit. The property, Blake Manor, is located at 570 Boden Way, west of I-580 and a block from Lakeshore Ave.
Blake Manor consists of nine two-bedroom/two-bath apartments averaging over 1.2k sf each. The property offers on-site laundry, tenant storage lockers and balconies with sweeping views of Lake Merritt, Grand Lake Theater, and Downtown Oakland. The building sits above 14 garage spaces, increasing the desirability for tenants and offering the owner an additional revenue source. Four units were delivered vacant at the close of escrow.
Kent Mitchell, Tim Warren, Randell Silva and Alex Lin with NAI Northern California represented the seller in the transaction.
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