NEWS

Trophy Oakland Multifamily Portfolio Sold For $15.8M

NAI NorCal’s Mitchell Warren Team sets another benchmark with its sale of this three property East Bay multifamily portfolio for $15.8M.

NAI Northern California is pleased to announce the sale of 344 Monte Vista Ave, 832 Erie St and 791 Kingston Ave, a three property multifamily portfolio located in Oakland’s Grand Lake neighborhood. Sold for $15,800,000, the sale has been a standout multifamily deal in the Oakland area so far in 2022.

The Mitchell Warren Team generated multiple offers ultimately delivering a top-of-market price at a 3.79% cap rate. 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.

The Grand Lake Portfolio consists of three multifamily assets totaling 55 units (23) studio units, (17) 1-bedroom units, and (15) 2- bedroom units with a total collective building size of over 42K square feet. This is truly a rare pride of ownership portfolio of multifamily assets in an A+ location.

The Mitchell Warren Team comprises Senior Vice President Kent Mitchell; Senior Vice President Tim Warren; Senior Investment Advisor Alex Lin; and Investment Advisor Randell Silva.