CONTRA COSTA

ADDRESS: 1460 Contra Costa
TYPE: Multifamily
PHASE: Sold 2016 | 3 Year Hold
PURCHASE PRICE: $10.515M
SALE PRICE: $21M

We purchased this property off-market with rents at 60% of nearby institutional comps due to inferior management.

Performed vast building re-purposing (re-placed exterior façade including new sheathing, waterproofing, and stucco, upgraded stormwater system to C3 standards, re-plumbed property, replaced staircases, completely new hardscapes, and demoed and built out a new leasing office, replaced the roof and weatherization of all exterior windows) and full aesthetic upgrades (signage, paint, railings, and landscaping). This lead to rents beating the local comp set with a total Basis of ~13M.

HOLC APARTMENTS

ADDRESS: 3010 Adeline
TYPE: Multifamily
PHASE: Sold 2016 | 4 Year Hold
PURCHASE PRICE: $2.14M
SALE PRICE:  $5.1M

EASTWOOD

ADDRESS: 1715 High Street
TYPE: Multifamily
PHASE: Sold | 2.5 Year Hold
PURCHASE PRICE: $2.62M
SALE PRICE: $5.25M

2268 E 15th St.

ADDRESS: 2268 E 15th St, Oakland, CA 94606

TYPE: Multifamily

PHASE: Sold 2022

PURCHASE PRICE: $925,000

SALE PRICE: $3,500,000

We purchased this property for $925,000 with a sale price of $3.55M. During the 11-year holding period, the property generated $2.6M of cash flow and a total distribution of $1,426,000.

2000 Linden

ADDRESS: 2000 Linden Street

TYPE: Multifamily

PHASE: Sold 2022

PURCHASE PRICE: $1,565,000

SALE PRICE: $5,175,000

We purchased this property in October 2013 for $1,565,000 and sold it in April 2022 off-market for $5,175,000. The net cash out from the sale was $1.92M after paying closing costs, paying off the loan, and pre-funding an ADU project. During the 9-year holding period, the property generated $3.4M of cash flow with total distributions of $2,123,380.

2308 Foothill

ADDRESS: 2308 Foothill Blvd, Oakland, CA 94601

TYPE: Multifamily

PHASE: Sold 2022

PURCHASE PRICE: $1,609,000

SALE PRICE: $2,000,000

2308 Foothill is a 16-unit, 100% studio building located in the Meadow Brook district of Oakland. Acquired in 2017 to place exchange proceeds from the sale of 45 Dore Street, this asset was sold at cost to allow our investors to recoup their principal. 2308 Foothill is a small percentage of the exchange proceeds from 2060 Jackson. The majority of the exchange proceeds were invested into 1460 Contra Costa Fund.