Oakland, CA – NAI Northern California’s Mitchell Warren team is pleased to announce the sale of a 29-unit multifamily asset in Oakland, California, for $8.5 million. The transaction marks a significant achievement in the region’s real estate market.
“We are pleased that even during a challenging time of high interest rates and difficult rental market, we were able to create a competitive bidding process with multiple offers, and ultimately very successful outcomes for both buyer and seller,” said Tim Warren, Senior Vice President at NAI Northern California.
765 Rand Avenue is located in Oakland’s Lakeshore neighborhood between Lakeshore and Grand Avenues. The property offers tenants access to endless eateries and retail establishments all within walking distance. Amenities include a 28-space parking garage, four on-site laundry rooms, private balconies, and fireplaces in select units. The seller had completed a number of capital improvements including a new roof, vinyl windows, and exterior paint.
This sale was facilitated by the Mitchell Warren Team, including Senior Vice Presidents Tim Warren and Kent Mitchell, Senior Investment Advisor Randell Silva, and Investment Advisors Adam Beeri and Nicholas Mowers.
