NAI NorCal’s Mitchell Warren Team is excited to announce their most recent off-market closing of La Peralta Apartments in Downtown Oakland. Representing both the buyer and seller, the team skillfully negotiated a sale price of $18,500,000 at a 4.61% cap rate.
With 93 residential units and 5 office spaces, La Peralta offered a rare opportunity to acquire a historically significant asset in the midst of Oakland’s developmental resurgence. Situated near major employers such as Kaiser Permanente & the Clorox Company, as well as within walking distance to two BART stations, makes this a highly desirable location for tenants.
At La Peralta, residents are greeted with a large atrium entrance, flooding the lobby with natural light, where there are two elevators to access the units. Presently, approximately 40% of the units have been renovated with freshly painted interiors, new cabinetry, granite countertops, laminate wood flooring, and modern appliances creating a comfortable environment with opportunities for more improvements.
Quality East Bay real estate assets are still selling at record-breaking prices and the Mitchell Warren Team leads the way with innovative marketing and matching of buyers with sellers. This accomplishment is one of many for the Mitchell Warren Team this year. Read more about their successes here: