15 Unit Apartment Building Sells in Adams Point Area of Oakland

April 11, 2012 – Oakland, CA – Patrick Nash, a senior associate at Bay Apartment Advisors, has brokered the sale of 338-340 Lenox Avenue in the City of Oakland. The 15 unit (2 non-conforming) property sold for $2,090,000, which equates to $139,333 per unit, a 6.24% Cap rate, and 10.55 GRM. The property is located just off Grand Ave. in Adam’s Point, a highly desirable market for both renters and investors alike. According to Nash, “The property received a large amount of buyer interest very quickly. The seller ultimately accepted a full price offer in four days.”

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