Fritz Jacobs represented the buyer of 1829 6th Avenue, continuing the multifamily investment momentum in the East Bay market
SAN FRANCISCO, CA – December 7, 2017 – NAI Northern California, the Bay Area presence for NAI Global, the largest commercial real estate brokerage network in the world, is proud to announce the $6.7 million sale of a 24-unit multifamily property in the Ivy Hill neighborhood of Oakland, CA.
NAI Northern California’s Investment Advisor, Fritz Jacobs, represented the buyer in this transaction located on 1829 6th Avenue. According to Mr. Jacobs, “Above market pricing for this off-market transaction was achieved through long-term potential, and the availability of significant capital improvement pass-throughs for this pride-of-ownership property.”
With all 24 units totaling up to 15,050 square feet, the property is positioned right at the edge of Ivy Hill, near the newly proposed Oakland Athletic’s Stadium. The building is also ideally located for tenants seeking ease of access to public transportation to commute throughout the greater Bay Area.
Oakland is a stable, ideally located multifamily real estate market to invest in, as many long-time San Francisco residents migrate across the bay and newly transplanted tech employees seek more for their rent money while still keeping connected via major transit systems.
About NAI Northern California
NAI Northern California is a progressive, full service commercial real estate firm serving the Bay Area. Recognized as one of the Top 25 Commercial Real Estate Firms by the East Bay and San Francisco Business Times, we are committed to delivering best in class services for our clients.