16 Units on Lake Merritt in Oakland Sell for $6.825MM

Lake Merritt, Oakland, Bay Area, East Bay, The Lakeview Condominiums,

Kristopher Lamont and Christopher Sparacino of Bay Apartment Advisors have represented the seller and buyer in the sale of The Lakeview Condominiums, located at 1524 1st Avenue in Oakland Ca. The Lakeview Condominiums, is a 16 unit, non-rent controlled, pride of ownership asset, situated directly across the street from Pitman Green and Lake Merritt.

Originally built as condos in 1993, the units were designed so that each has unobstructed views of Lake Merritt.

The building has a gated first-floor parking garage with secure access, 24/7 video surveillance, a large modern elevator, and in-unit balconies.

The property sold for $6,825,000, which equates to $426,563/unit and $389.42/Square Foot.

West Coast Commercial Real Estate News