29-Unit Garden-style Apartment Building SOLD 11/30/2011
156 Estabrook Street, San Leandro, CA 94577
Nick Myerhoff and Link Corkery represented the buyer. This was the completion of a successful 1031 exchange. Our client sold 2701 High Street for $2.9m and bought 156 Estabrook for $3.6m. Seller’s goal was to move out of Oakland into a higher quality neighborhood and was very happy with the exchange.
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$3.6m
11/30/2011
1031 Exchange upleg
Off market
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The Regency is a gorgeous apartment building located in central San Leandro. The property is within walking distance of quaint little shops, banks and has easy freeway access. The apartments feature newly-renovated kitchens with ceramic tile floors, plush carpet, new paint, state-of-the-art entry doors and new appliances.
There are two fantastic penthouse units with sweeping views, and each unit has a balcony or patio. Tenants enjoy laundry facilities on each floor and covered parking with personal storage units. Each unit has built in microwave, disposal and dishwasher. The property is professionally operated by Vasona Management.
The Regency was the upleg part of a 1031 exchange that Nick Myerhoff and Link Corkery completed in November 2011. This property was traded into from 2701 High Street in Oakland. Nick and Link’s clients wanted to get out of a troubled asset in East Oakland and move their portfolio closer to home. The exchange process was successful, resulting in no boot or taxes and the new owners are extremely happy with their trade.
- Fantastic central San Leandro location
- Two penthouse units with sweeping views
- Remodeled professional entry with leasing office
- Air conditioning in each unit
- Wireless Internet throughout
- Covered parking
- Dishwashers, disposals & microwaves in each unit
- Extra storage for each unit
- Laundry facility
- Patio or balcony for each unit
- Elevator
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