Graystone Apartments 286 Lenox Ave 36 Unité Immeuble d’appartements 11 215 440 $ CAD (311 540 $ CAD/Unité) 3,55% Taux de capitalisation Oakland, CA 94610

The Graystone presents a rare investment opportunity in Oakland, offered for the first time in three generations. Located atop Adams Point with sweeping views of Lake Merritt and the city skyline, this 36-unit property combines historic architectural character with modern upgrades. The unit mix includes twelve two-bedroom, twelve one-bedroom, and twelve studio apartments, each thoughtfully designed with spacious layouts. Many units have been updated with stainless steel appliances, granite counters, and refinished floors while retaining the building’s classic period charm.
This asset offers significant upside potential with a current cap rate at 3.55% and additional rent growth opportunities. Positioned in a highly desirable neighborhood, The Graystone benefits from strong tenant demand due to its walkability, proximity to Lake Merritt, and easy access to Highway 580 and BART transit. The property has been well-maintained, featuring original architectural details such as decorative entrances and steam heat systems.
With over 40% rental upside still available, The Graystone is a compelling choice for investors seeking a stable income stream and long-term appreciation in one of Oakland’s most sought-after residential districts.