Lakeside Investment Company Acquires and Renovates Duplex Properties in One of the Nation’s Hottest Housing Markets in North Oakland
OAKLAND, CA – October 24, 2017 – Lakeside Investment Company, real estate investment and operating company in the Bay Area, is proud to announce the acquisition of two off-market multifamily properties in Oakland.
The subject properties are 860 Arlington Avenue and 714 Aileen Street, three structures in total on two separate parcels within a quarter mile of each other. This was an off-market transaction in the prized Bushrod location of North Oakland, which has been recently marked by East Bay Times as the nation’s hottest housing market based on the high employment, household income, and home values in the immediate area.
Lakeside Investment Company’s Senior Acquisition Analyst Thomas Kerbleski, Acquisitions Analyst John Hansen, and Project Manager Brandon Pitre worked together throughout this transaction. According to Mr. Hansen, “Leveraging brokerage relationships allowed us to find the off-market deal and negotiate a favorable price with a motivated seller.”
The properties will undergo $375,000 in structural and cosmetic renovation to bring them up to the high standard set by the neighboring buildings in the coveted Bushrod neighborhood.
According to President James Kilpatrick, “These acquisitions exemplify the essence of our investment strategy, generating attractive risk-adjusted returns by purchasing and improving properties with significant potential in urban markets like North Oakland.”
About Lakeside Investment Company
Lakeside Investment Company is a real estate investment and operating company focused on acquiring and repositioning office, retail, mixed-use, and multifamily assets in dynamic markets in the San Francisco Bay market. Targeting income-producing and value-add opportunities in interesting, evolving neighborhoods, our firm employs a focused and disciplined approach to its investments.
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