Laurel Lofts in Oakland Sell for $4.85MM

Oakland, Pinza Group, Laurel Loft, Bay Area, East Bay

Oakland, Pinza Group, Laurel Loft, Bay Area, East Bay

Oakland, CA – The Pinza Group announced another sale in Oakland’s coveted Laurel District: ten condominiums located at 3619 35th Avenue in Oakland, CA. Steven Pinza, Esq (the 2014, 2015, & 2016 Top Multifamily Sales Broker in the East Bay according to CoStar), President of The Pinza Group (the 2014, 2015, & 2016 Top Multifamily Sales Brokerage in the East Bay according to CoStar) represented the Buyer and Seller in the transaction. The property sold for $4,850,000 and obtained multiple offers after a very short marketing period.

“Currently my company has eight apartment buildings in escrow in Oakland, and are set to bring to market three other listings in the city” stated Pinza. “This sale shows that there remains significant interest in Oakland and that the market shows no signs of slowing down” concluded Pinza.

The Laurel Lofts consists of ten condominiums built in 2008. While currently run as an apartment building with no rent control and no eviction control, the Laurel Lofts could be sold separately as condominiums if an investor chooses to do so in the future. 9 of the 10 units are large residential Live/Work condominiums consisting of 8 three bedroom, three bath + office units and 1 four bedroom, four bath unit. The remaining unit is a commercial condo currently rented to a cell phone provider through October 2018.

Each unit boasts amazing amenities including but not limited to, washer dryers in unit, central a/c and heat, private patio, a one car private, lush landscaping, and one guest parking spot. Units features floor to ceiling windows, 15 foot ceilings, hardwood floors, partial bay views, garage, and a modern kitchen with stainless steel appliances.Each unit is ±1,400 SF and contains a ±150 sf commercial retail space with ADA bathroom.

The Laurel Lofts are located at the gateway to the Laurel District of Oakland where one of the two “Laurel Arches” is located. The Laurel District is a melting pot of culture and is considered one of Oakland’s most diverse neighborhoods

About The Pinza Group, Inc.
In 2016, The Pinza Group sold 62 apartment buildings in the East Bay, valued at over $150,000,000, and produced over $5MM in real estate commissions. This is triple any real estate brokerage focusing on apartment buildings. Year to date through June, The Pinza Group has sold 31 apartment buildings, and has 14 apartment buildings in escrow.

The Pinza Group, Inc was recently named as the 2014 & 2015 & 2016 Top Real Estate Sales Brokerage by CoStar, and is the only privately held investment real estate brokerage to receive the prestigious award in 2014 & 2015 & 2016. The Pinza Group is a full service investment real estate sales firm located in Walnut Creek, California. Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 125 apartment sales in the last 24 months. The Pinza Group is an investment real estate brokerage built on a strong foundation of integrity, dedication, and experience which allows us to provide significant value to existing and future clients. Since The Pinza Group focuses exclusively on investment real estate, all of our efforts and resources are spent researching, brokering, and underwriting commercial properties in the East Bay. The Pinza Group has devoted significant resources to build an effective list of owners, investors, and brokers in the area which has allowed us to create an innovative marketing platform allowing us to deliver incredible value to both owners and investors. For more information on off market investments, an estimate of value, or for free real estate advice please visit: www.pinzagroup.com or info@pinzagroup.com.

West Coast Commercial Real Estate News