Patrick Nash, a senior associate at Bay Apartment Advisors, has brokered the sale of 3408 Richmond Blvd in the City of Oakland. The 18 unit property sold for $3,000,000, which equates to $166,666 per unit, a 6.02% Cap rate, and 10.36 GRM. The property is located just off Piedmont Ave. near Kaiser Permanente Medical Center, a highly desirable market for both renters and investors alike because of the close proximity to Piedmont Ave shops, freeways, and BART.
About Bay Apartment Advisors
Bay Apartment Advisors is a highly specialized apartment brokerage firm based in Oakland California. We specialize in multi family investment sales, and we operate an investment division with a portfolio of apartment buildings . As experienced brokers with well-established relationships in the region, our reach extends to thousands of local investors and brokerage firms alike. Our track record positions us as one of the top apartment brokerage firms in the East Bay. With over 5,000 apartment units sold and counting, we are continually evolving to meet the demands of today’s market. We take great pride in delivering up to date and pertinent investment analysis to our clients regarding the markets we serve. We advise based on our clients’ needs, not our own.