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The Brooklyn 392 11th St 78 Unit Apartment Building $6,950,000 ($89,103/Unit) 7.62% Cap Rate Oakland, CA 94607
Investment Highlights
- Value-Add Opportunity with Major Upside
- Two high-end street-level retail destination spots
- 78 Co-living Units
- Bank appraisal of $14,760,000
- 5,000 SF Common Area/Event Center/Lounge
Executive Summary
The Brooklyn is a seven-story mixed-use multifamily asset located in the heart of Downtown Oakland. The property features 78 furnished residential units, approximately 5,000 square feet of shared lounge and event space, and street-level retail income.
Renovated in 2018, the property benefits from extensive capital improvements, including upgraded interiors, modernized building systems, and enhanced common areas. Situated steps from BART and major downtown amenities, the asset offers investors a unique opportunity to acquire a distinctive urban housing property with significant operational upside through lease-up and management optimization.
Property highlights include:
• 78 furnished residential units
• Street-level retail tenants
• Approximately 5,000 SF of lounge/event/co-working space
• Walk Score 99
• Renovated in 2018
• Transit-oriented Downtown Oakland location
• Value-add operational upside opportunity
• Steps from BART, restaurants, nightlife, and employment centers
Renovated in 2018, the property benefits from extensive capital improvements, including upgraded interiors, modernized building systems, and enhanced common areas. Situated steps from BART and major downtown amenities, the asset offers investors a unique opportunity to acquire a distinctive urban housing property with significant operational upside through lease-up and management optimization.
Property highlights include:
• 78 furnished residential units
• Street-level retail tenants
• Approximately 5,000 SF of lounge/event/co-working space
• Walk Score 99
• Renovated in 2018
• Transit-oriented Downtown Oakland location
• Value-add operational upside opportunity
• Steps from BART, restaurants, nightlife, and employment centers
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Sprinkler System
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Furnished Units Available
- Wheelchair Accessible
- Media Center/Movie Theatre
- Smoke Free
- Wi-Fi
- Storage Space
- Elevator
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 80 - 183 |
| 1+1 | 58 | - | 80 - 181 |
Exceptionally walkable
100/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 002-0057-018-00 | Improvements Assessment | $5,836,547 |
| Land Assessment | $1,183,770 | Total Assessment | $7,020,317 |
Property Taxes
Parcel Number
002-0057-018-00
Land Assessment
$1,183,770
Improvements Assessment
$5,836,547
Total Assessment
$7,020,317
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The Brooklyn | 392 11th St
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