Creekside Apartments

Posted: 2/5/2020
80 Units
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About Creekside Apartments

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in Creekside Apartments (the "Property"), an 80-unit multifamily community with approximately 33% revenue upside in San Leandro, California. Built in 1969 and available for acquisition for the first time, Creekside Apartments has been diligently maintained by ownership and represents a significant value-add opportunity with a market-proven $600+ per unit post-renovation premium.

Located within walking distance of the San Leandro BART Station, Downtown San Leandro and the new ±1MM square foot San Leandro Tech Campus, Creekside Apartments benefits from its strategic access to the most innovative companies and highest paying jobs in the world. Median household incomes in San Leandro are forecasted to grow 18% to $95,295 annually by 2024 while the number of local households with annual incomes greater than $150,000 is expected to grow 34% during this same time. Yardi projects rents in the submarket to increase 39% while properties are anticipated to maintain +97% average occupancy through 2029.

With its outstanding accessibility and sound physical plant, Creekside Apartments presents the exceptional opportunity to capture significant upside by implementing a comprehensive renovation program in one of the San Francisco Bay Area’s top performing income growth submarkets.