Buyer Representation

Buyer Representation

Stabilized 18-Unit with Hidden Upside: Cell Tower Income, Basement Storage, and Room to Grow

Oakland, CA

9,123

sq.ft

Overview

I represented the buyer in acquiring this 18-unit apartment building in Oakland's Maxwell Park—a supply-constrained submarket where turnover is rare. The property was fully stabilized at a 6.14% cap rate with mostly updated studio units, on-site laundry, and a T-Mobile cell tower lease generating ancillary income most buyers wouldn't think to underwrite. My analysis went deeper. I identified additional upside through a unit turn program, expense optimization, and monetizing underutilized basement space for tenant storage. The acquisition gave my client strong in-place cash flow with multiple levers to grow NOI without major capital outlay. If you're looking for an income property that performs on day one with room to grow—I'll help you find it and underwrite it honestly.

Value Delivered

Validated acquisition at 6.14% cap rate through detailed underwriting and financial modeling

Identified upside via unit turn program and basement storage monetization

Underwrote ancillary income from existing T-Mobile cell tower lease

Analyzed market rent trends to project growth and protect downside risk

Delivered a stabilized asset with multiple NOI growth levers in a supply-constrained market

Deal Highlights

Off-Market Deal

Off-Market Deal

1031 Buyer/Seller

1031 Buyer/Seller

Rental / Income Property

Rental / Income Property

TIC or Condo Structure

TIC or Condo Structure

Value-Add or Renovation Play

Value-Add or Renovation Play

Repeat Client

Repeat Client

Dual Agency

Dual Agency

Financing Was a Key Factor

Financing Was a Key Factor

Location

Purchase Price

$

2,650,000

Want to understand how this approach applies to your property? Let's talk.

Angus MacDonald

Contact

Your Property. Your Strategy. Let’s Get It Right.

Whether you're buying, selling, or navigating something more complex, I'll define the smartest path forward with you.