OAKLAND, CA – May 24, 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 $3.68 million sale of a multifamily property in Adam’s Point.
Vice President, Shivu Srinivasan and Investment Advisor, Robert Dau, represented the seller in the transaction process that attracted multiple offers.“With six offers over the asking price, we delivered $185K over list price, and went well beyond the seller’s wildest pricing expectations. This property is a true gem and just walking distance from Lake Merritt.”
The 9,560 square foot multifamily property built in 1975 features 12 one-bedroom, one-bathroom units with ample parking and an overall high potential for an optimal rental upside. With an estimated $385.50 price per square foot, each unit is valued at roughly $307,000.
Located at 394 Orange Street, this multifamily property resides in a quaint region of the East Bay Area, close to Downtown Oakland, Lake Merritt, 19th Street BART station, and offers numerous choices for dining, shopping and entertainment.
About NAI Global
NAI Northern California is at the leading edge of technology, collaborative culture, and training, giving our local professionals a competitive advantage and creating better outcomes for our clients. We are consistently a top Commercial Brokerage in the Bay Area, and continue to grow our team and revenues.
NAI Global is the largest commercial real estate brokerage network. Founded in 1978, today NAI Global has more than 400 offices worldwide and over 7,000 professionals, managing over 425 million square feet of property. Global offices deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
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