Log In/Sign Up
Your email has been sent.
Graystone Apartments 286 Lenox Ave 36 Unit Apartment Building $8,000,000 ($222,222/Unit) 3.55% Cap Rate Oakland, CA 94610
Investment Highlights
- Excellent connectivity to Highway 580 and short commute to Downtown Oakland and BART.
- Many units updated with granite counters, cabinets, and stainless steel appliances.
- Convenient pedestrian access to outdoor recreation, dining, and entertainment.
- Well-maintained, historic 36-unit apartment building located in Adams Point near Lake Merritt with a mix of studios, one, and two-bedroom layouts.
- Strong rental upside potential within a high-demand submarket.
Executive Summary
The Graystone presents a rare investment opportunity in Oakland, offered for the first time in three generations. Located atop Adams Point with sweeping views of Lake Merritt and the city skyline, this 36-unit property combines historic architectural character with modern upgrades. The unit mix includes twelve two-bedroom, twelve one-bedroom, and twelve studio apartments, each thoughtfully designed with spacious layouts. Many units have been updated with stainless steel appliances, granite counters, and refinished floors while retaining the building’s classic period charm.
This asset offers significant upside potential with a current cap rate at 3.55% and additional rent growth opportunities. Positioned in a highly desirable neighborhood, The Graystone benefits from strong tenant demand due to its walkability, proximity to Lake Merritt, and easy access to Highway 580 and BART transit. The property has been well-maintained, featuring original architectural details such as decorative entrances and steam heat systems.
With over 40% rental upside still available, The Graystone is a compelling choice for investors seeking a stable income stream and long-term appreciation in one of Oakland’s most sought-after residential districts.
This asset offers significant upside potential with a current cap rate at 3.55% and additional rent growth opportunities. Positioned in a highly desirable neighborhood, The Graystone benefits from strong tenant demand due to its walkability, proximity to Lake Merritt, and easy access to Highway 580 and BART transit. The property has been well-maintained, featuring original architectural details such as decorative entrances and steam heat systems.
With over 40% rental upside still available, The Graystone is a compelling choice for investors seeking a stable income stream and long-term appreciation in one of Oakland’s most sought-after residential districts.
Property Facts
| Price | $8,000,000 | Property Subtype | Apartment |
| Price Per Unit | $222,222 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.55% | Lot Size | 0.30 AC |
| Gross Rent Multiplier | 10.71 | Building Size | 35,364 SF |
| No. Units | 36 | No. Stories | 7 |
| Property Type | Multifamily | Year Built | 1929 |
| Price | $8,000,000 |
| Price Per Unit | $222,222 |
| Sale Type | Investment |
| Cap Rate | 3.55% |
| Gross Rent Multiplier | 10.71 |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 35,364 SF |
| No. Stories | 7 |
| Year Built | 1929 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 36 | - | 600 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 010-0773-014-00 | Improvements Assessment | $570,041 |
| Land Assessment | $364,335 | Total Assessment | $953,197 |
Property Taxes
Parcel Number
010-0773-014-00
Land Assessment
$364,335
Improvements Assessment
$570,041
Total Assessment
$953,197
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Graystone Apartments | 286 Lenox Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.