8603-8701 Hillside ST, Oakland, CA 94605
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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660
Listed by Matthew Flaherty Colliers International
$11,000,000
Est. payment /mo
2.97 Acres Lot
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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 426157391

HOA Y/N No

Lot Size 2.970 Acres

Acres 2.97

Property Sub-Type Multi Family

Property Description

The Brook Point Apartments, located at 8603-8701 Hillside Street, Oakland, CA. The property consists of two individually parceled contiguous buildings totaling 96 units located in the Castlemont neighborhood. Offered at $11,000,000, the asset presents a value-add opportunity at a scale that allows an investor to establish an immediate infill presence in Oakland's workforce housing market. Demand for attainably priced rental housing in East Oakland continues to grow, and a 19.21% loss-to-lease across the rent roll provides a defined path to efficiently capture increased rental revenue through natural unit turnover, with additional upside available through operational efficiencies. The subject properties, built in 1964, feature two adjacent buildings spanning 2.97 acres, totaling (96) residential units - (1) Studio Unit, (54) 1-Bedroom Units, (30) 2-Bedroom Units, (9) 3-Bedroom Units, and (2) 4-Bedroom Units. The properties feature an on-site laundry facility in each building, 125 parking spaces on-site, and controlled access.

Location

State CA

County Alameda

Area Oakland Zip 94621

Interior

Fireplace No

Building

Lot Description Other

New Construction No

Others

Tax ID 43461011

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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660

Agent DRE01254724 / 01254725

Agent DRE01254724 / 01254725

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