The Point at Rockridge_Property for Sale

4500 Gilbert St, Oakland, CA, 94611-4657, US

The Point at Rockridge

Asset Description

The Point at Rockridge is a 148-unit assisted living and memory care community well-located in Oakland's prestigious Rockridge neighborhood. Located just 12 miles from downtown San Francisco, the property's urban infill location offers residents convenient access to multiple upscale retail corridors while benefiting from excellent connectivity via major transportation arteries and close proximity to some of the East Bay's most established and affluent residential neighborhoods. The six-story asset encompasses approximately 112,000 SF on a 1.08-acre parcel. The Community is complemented by a sophisticated amenity package including a theater, game room, fitness center, social lounge, landscaped courtyard, library, and on-site beauty salon.

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Attributes

Number of units

148

Occupancy

76%

Land area net

0.44 ha

Number of buildings

Number of floors

Building area gross

10,425 m²

Investment strategy

Value Add

Media

Investment Highlights

Infill Location
The Community is located in a high traffic and visible corridor of an affluent submarket, with close proximity to hospitals, retail/commercial, and dense residential housing developments.
Ultra High Barrier to Entry Market
The Community is located in an exceptionally difficult area of Oakland to develop in, ensuring limited future competition.
Continuously Maintained
The Community was extensively renovated in 2016, and the current owners have invested an additional $2.5M into the Property since 2019 during their ownership.
Pre-Stabilized Performance
The Community offers value-add opportunities through leasing, select capital improvements, and staffing stabilization.
Below Market Rents
The Community is priced below the competitive set and provides the next owner the opportunity to sustainably increase rental rates throughout the holding period.
Optimal Offering Structure
The Community is offered free and clear of financing and management.