SOLD – High Street Apartments

2701 High Street, Oakland, CA 94619

High Street Apartments – 32-Unit East Oakland Apartment Building
SOLD FOR $2,915,000 By Nick Myerhoff and Link Corkery 8/12/11

2701 High Street Oakland, CA 94619

High Street Apartments was built in 1989 and is therefore exempt from rent control. It features a gated parking garage, numerous balconies surrounded by mature trees and laundry facilities. Nearly all the units are two-bedroom with desirable floor plans.

This interesting building is interconnected by exterior catwalks and corridors providing wide balconies, many of which have views of the Oakland Hills or San Francisco Bay.

An historically low vacancy rate is testament to the desirability of this building. With moderate aesthetic work this property can be transformed into a true cash-flowing gem.

This property is in close proximity to three parks, an elementary school, the 580 Fwy and not far from the Fruitvale BART station and Oakland’s Mills College.

The High Street Apartments provides outstanding cash flow of over $6000/mo in cell site income. The current owner has been offered $400,000 cash to sell the income from these sites. There is a possibility of adding more sites at this location, providing a new owner with upside in cash flow.

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