OAKLAND, CA – May 19, 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 sale of a $3.8 million multifamily property in the prominent Piedmont/Grand Lake area of Oakland, CA.
Vice President, Shivu Srinivasan and Investment Advisor, Robert Dau, represented the seller in the off-market transaction. This trophy property located at 3779 Harrison Street with a total of 16 units including a penthouse, boasted a tremendous investment opportunity. “With low in-place rents, but substantial upside, this deal was truly a win-win for both the buyer and the seller,” stated Shivu Srinivasan.
Built in 1964 and over 12,000 square feet with 15 two-bedroom units and one one-bedroom penthouse, this multifamily residence offers dwellers easy access to downtown Oakland, Lake Merritt, and Piedmont Avenue.
The property is also in close proximity to MacArthur BART station, freeways I-580 and I-980, and is minutes from major hospitals, businesses, restaurants and shopping centers.
About NAI Northern California
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.