Lakeview Land Partners, an Oakland based multifamily housing investment company has purchased The Bishop Berkeley Apartments, a 34-unit apartment complex located at 2709 Dwight Way in Berkeley CA.
The Bishop Berkeley Apartments are located at the intersection of College Avenue and Dwight way near the UC Berkeley campus. The property has old world charm, off street parking, and many recent upgrades.
Lakeview Land Partners has plans for a full remodel of the buildings interior common areas, and many apartment units. “We are thrilled to be buying this beautiful property in a great location near UC Berkeley and the great neighborhoods surrounding it. The property location and building architecture will continually draw students and professionals as tenants, and we plan to improve on what is already there” stated managing partner Joel Kelly. The property consists of a concrete and wood framed structure with classic brick veneer and the unit mix consists of studios, one bedrooms, and a large 2 bedroom unit. Most units have off-street covered parking and views of the San Francisco skyline and bay.
Lakeview Land Partners paid $7,500,000 for the property. Mike Colhoun with Newmark Frank Night represented the seller and the buyer in this transaction. Bay Apartment Advisors, an Oakland based property management and brokerage company will professionally manage the property.
Lakeview Land Partners has purchased 3 properties totalling 115 units in the East Bay Area in the past 12 months including:
- Bishop Berkeley Apartments | 34 Units | 2709 Dwight Way, Berkeley, CA
- The Lakemont Apartments | 53 Units | 1520 Jackson Street Oakland, CA
- Esta Villa Apartments | 28 Units | 355 Estabrook Avenue, San Leandro, CA