Marcus & Millichap Brokers $9.7M Sale Of 73-Unit Affordable Housing Community In Oakland

The property involved in the transaction is Garden Villas, a multifamily residential community located at 1256 99th Avenue in Oakland, CA. The sale price of the asset was $9,700,000 for a total of 73 units, resulting in a price per unit of $132,877. The property consists of 18 four-plex buildings, with more than half of the units having undergone renovations.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,700,000
• Units: 73
• Price per Unit: $132,877
• Broker: Adam Levin
• Agency: Levin Johnston Group - Marcus & Millichap

The transaction was represented by the Levin Johnston team from Marcus & Millichap on behalf of both the undisclosed seller and buyer, emphasizing their role in facilitating the agreement.