36 Units Near Lake Merritt in Oakland Sells for $11MM
April 4th, 2017–Bay Apartment Advisors has brokered the sale of The Lenox Manor Apartments, located at 266 Lenox Avenue in Oakland, CA. The building is a thirty-six unit apartment complex located in the heart of the trendy Adams Point neighborhood, just three blocks up from Lake Merritt and Grand Avenue.
The property was built in the 1930’s, with exceptional charm and period features. The property has undergone many common area and inunit improvements over the years. The Lenox Manor Apartments are perched at the top of Lenox Avenue and reaches six stories high with stunning views from most of the units, which are predominantly large one bedroom floor plans.
The property sold for $11,050,000 which equates to +/- $307,000 per unit. The seller of the property, Lakeview Land partners, LLC. is led by Joel Kelly and Christopher Curtis who are based in Oakland Ca. Kristopher Lamont of Bay Apartment Advisors represented the seller exclusively. Kristopher Lamont and Kevin Turner of Marcus & Millichap teamed up and represented the buyer.