
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
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.
