55-Unit Oakland Multifamily Portfolio Sold For $15.8MM

NAI Northern California, Oakland, East Bay

NAI NorCal’s Mitchell Warren Team sets another benchmark with its sale of this three property East Bay multifamily portfolio for $15.8M.

Oakland, CA – March 18, 2022 – NAI Northern California is pleased to announce the sale of 344 Monte Vista Ave, 832 Erie St and 791 Kingston Ave, a three property multifamily portfolio located in Oakland’s Grand Lake neighborhood. Sold for $15,800,000 ($287,272 per unit combined), the sale has been a standout multifamily deal in the Oakland area so far in 2022.
 
The Mitchell Warren Team generated multiple offers ultimately delivering a top-of-market price at a 3.79% cap rate. Quality East Bay real estate assets are still selling at record-breaking prices and the Mitchell Warren Team leads the way with innovative marketing and matching of buyers with sellers.
 
The Grand Lake Portfolio consists of three multifamily assets totaling 55 units (23) studio units, (17) 1-bedroom units, and (15) 2- bedroom units with a total collective building size of over 42K square feet. This is truly a rare pride of ownership portfolio of multifamily assets in an A+ location.

The Mitchell Warren Team comprises Senior Vice President Kent Mitchell; Senior Vice President Tim Warren; Senior Investment Advisor Alex Lin; and Investment Advisor Randell Silva.

Brokers 

Kent Mitchell Senior Vice President 510.919.4919
kent@nainorcal.com CalDRE #01784628
Tim Warren Senior Vice President 707.363.2463
twarren@nainorcal.com CalDRE #02008347
Alex Lin Senior Investment Advisor 626.348.9192
alin@nainorcal.com CalDRE #02055625
Randell Silva Investment Advisor 209.740.1251
rsilva@nainorcal.com CalDRE #02064884

About NAI Northern California

NAI Northern California is a full-service commercial real estate firm serving the San Francisco Bay Area and beyond. Our team delivers technology-enabled commercial real estate services that create value for our clients, industry, and communities.

NAI Northern California is a partner of NAI Global, the largest commercial real estate brokerage network, with more than 375 offices worldwide and over 6,000 professionals completing in excess of $20 billion in commercial real estate transactions globally.

Recently, NAI Northern California received the 2021 CoStar Power Broker Award for both Top Sales Firm and Top Leasing Firm in the South Bay/San Jose and East Bay/Oakland markets. NAI Northern California is part of the NAI Global network, recently recognized by Lipsey as the number 5 most recognizable commercial real estate brand.

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