INCOME PROPERTY FOR SALE: 88 UNITS		click to see larger image
STATUS:	Sold - May, 2002
ADDRESS:	257 Vernon Street, Oakland, CA 94610 Cross Street: Lee Street  Map Code: 649H2
MOTIVATION:	Property Counselors Link Corkery, Inc. is proud to represent the buyer who exchanged. The seller also exchanged.
PRICE:	$9,850,000
TERMS:	Cash to new loan with Bay View Bank in the amount of $7,8335,000. This was one of Bay View's last loans, made before being bought out by Washington Mutual Bank.
DESCRIPTION:	One of the largest apartment buildings in Oakland, the Lakepoint Apartments is centrally located in Oakland's Adams Point district. The property had recently been totally renovated and was in top condition. It features outstanding views, underground parking, pool, spa, clubhouse, elevator, decks and more -- an outstanding property.
VALUE INDICATORS:	GRM: 8.9   ·   Cap Rate: 7.2   ·   Price per unit: $111,931
For a complete statement on this property please call or email your request, indicating whether you would like the package sent by mail or fax.