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316 12th Street Apartments 316 12th St 27 Unit Apartment Building $11,167,360 CAD ($413,606 CAD/Unit) 8.83% Cap Rate Oakland, CA 94607
EXECUTIVE SUMMARY
316 12th St is a beautifully-designed redeveloped mixed-use multifamily community
located in the heart of Downtown Oakland.
Situated on a 9,453 square foot parcel of land, the subject property was originally
constructed in 1909 but more recently redeveloped in 2023. The renovations include the
transformation of a two-story commercial building into a ve story mixed-use building
boasting a gross building area of approximately 35,702 square feet, offering 27 residential
units and 2 vacant ofce/retail suites. The rst two oors are constructed with glulam
columns and beams while the top three oors are built with oor panels point-supported
on columns made from a veneer-based CLT.
Tenants are situated in the heart of Downtown Oakland and enjoy brand new unit
amenities including stainless steel appliances, dishwashers, modern cabinetry, ample
interior and exterior lighting, in-unit washers and dryers, central heating and AC, and
much more. Additionally, tenants are just a 4-minute walk from the Downtown BART
station and enjoy convenient access to a myriad of shopping, dining and entertainment
options within the local neighborhood. Lake Merritt is also approximately 10 minutes
away from the subject property, which hosts many activities ranging from scenic walking
and jogging paths to boating, birdwatching, and cultural events at nearby venues.
The investment appeal of this asset is driven by the subject property's new construction
and high cash ow potential. With a world-class location in the heart of Downtown
Oakland, 316 12th St presents an attractive choice for investors due to its new
construction components, proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
located in the heart of Downtown Oakland.
Situated on a 9,453 square foot parcel of land, the subject property was originally
constructed in 1909 but more recently redeveloped in 2023. The renovations include the
transformation of a two-story commercial building into a ve story mixed-use building
boasting a gross building area of approximately 35,702 square feet, offering 27 residential
units and 2 vacant ofce/retail suites. The rst two oors are constructed with glulam
columns and beams while the top three oors are built with oor panels point-supported
on columns made from a veneer-based CLT.
Tenants are situated in the heart of Downtown Oakland and enjoy brand new unit
amenities including stainless steel appliances, dishwashers, modern cabinetry, ample
interior and exterior lighting, in-unit washers and dryers, central heating and AC, and
much more. Additionally, tenants are just a 4-minute walk from the Downtown BART
station and enjoy convenient access to a myriad of shopping, dining and entertainment
options within the local neighborhood. Lake Merritt is also approximately 10 minutes
away from the subject property, which hosts many activities ranging from scenic walking
and jogging paths to boating, birdwatching, and cultural events at nearby venues.
The investment appeal of this asset is driven by the subject property's new construction
and high cash ow potential. With a world-class location in the heart of Downtown
Oakland, 316 12th St presents an attractive choice for investors due to its new
construction components, proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $11,167,360 CAD | Property Subtype | Apartment |
| Price Per Unit | $413,606 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 8.83% | Lot Size | 0.22 AC |
| Gross Rent Multiplier | 8.61 | Building Size | 26,191 SF |
| No. Units | 27 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2022 |
| Price | $11,167,360 CAD |
| Price Per Unit | $413,606 CAD |
| Sale Type | Investment |
| Cap Rate | 8.83% |
| Gross Rent Multiplier | 8.61 |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.22 AC |
| Building Size | 26,191 SF |
| No. Stories | 3 |
| Year Built | 2022 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Freezer
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 376 - 402 |
| 2+1 | 17 | - | 562 - 571 |
| 2+2 | 1 | - | 867 |
| 3+2 | 2 | - | - |
| 4+2 | 1 | - | - |
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (90)
Bike Score®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 002-0063-007-00 | Improvements Assessment | $23,503,154 CAD |
| Land Assessment | $3,934,926 CAD | Total Assessment | $27,438,080 CAD |
PROPERTY TAXES
Parcel Number
002-0063-007-00
Land Assessment
$3,934,926 CAD
Improvements Assessment
$23,503,154 CAD
Total Assessment
$27,438,080 CAD
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