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4/07/26
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A recently redeveloped mixed-use property comprising 27 apartment units and two retail/office suites in Oakland has traded hands in an $8.1 mil transaction. Apartments at 316 12th Street feature brand new in-unit washers and dryers, stainless steel appliances, dishwashers, modern cabinetry, ample interior and exterior lighting, and central heating and AC.
The property is located at 316 12th St, in the heart of the city’s downtown. It is situated within a five-minute walk from the Downtown BART station and with convenient access to a myriad of shopping, dining, and entertainment options within the local neighborhood. Oakland is a major transportation hub with several BART stops and is intersected by several interstate freeways, including Interstate 80, Interstate 580, and Interstate 880.
The transaction was and REO sale completed on behalf of the original PACE loan lender. Levin Johnston of Marcus & Millichap represented the seller and procured the buyer in the deal.
“Our Client took possession of this asset shortly after it had been extensively redeveloped and converted from a two-story commercial building to a five-story, mixed-use property featuring apartment homes with modern, attractive in-unit amenities,” explains Adam Levin, Executive Managing Director of Levin Johnston. “While the Oakland market remains challenging in a time of flux, we not only were able to secure a buyer, but procured multiple competitive offers during the bidding process.”
The city of Oakland is undergoing significant revitalization through private investment and public initiatives like those in the Downtown Oakland Specified Plan. According to recent Marcus & Millichap research, compressed multifamily vacancies as the apartment delivery pipeline slows are expected to drive steady rent growth in the market in 2026.
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