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8/28/23
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An apartment trade in Oakland consisting of two side-by-side twenty-four-unit apartment buildings came in at $11.65 mil, or $242.7k/unit. The properties, located at 237-263 41st St, offer a mix of one- and two-bedroom units.
The properties feature a 99 walk score and are considered a “Walker’s Paradise” by Walkscore. They have an excellent location steps from Piedmont Ave, Oakland's premier shopping district. Amenities include 46 covered parking spaces, storage closets, and four on-site laundry rooms. Residents also have close access to the MacArthur BART Station just 0.7 miles away.
Kent Mitchell, Tim Warren, Alex Lin and Randell Silva with NAI NorCal represented both parties in the deal. According to NAI, the deal is the first $10 mil+ multifamily sale in Oakland for 2023 and only the 3rd multifamily sale in Alameda County for $10 mil+ in 2023.
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