LOCATION: 1460 Contra Costa
TYPE: Multi-Family Residential Housing
PHASE: Sold 2016 | 3 Year Hold
PURCHASE PRICE: $10.515M
SALE PRICE: $21M
We purchased this property off-market with rents at 60% of nearby institutional comps due to inferior management.
Performed vast building re-purposing (re-placed exterior façade including new sheathing, waterproofing, and stucco, upgraded stormwater system to C3 standards, re-plumbed property, replaced staircases, completely new hardscapes, and demoed and built out a new leasing office, replaced the roof and weatherization of all exterior windows) and full aesthetic upgrades (signage, paint, railings, and landscaping). This lead to rents beating the local comp set with a total Basis of ~13M.
LOCATION: 1638 47th Ave.
TYPE: Adaptive Reuse
PHASE: Entitled | Permitting
Melrose Lofts is a project that will renovate an existing church and adjacent building and convert into 60 rental apartments consisting of Studios, 1 bedrooms, and 2 bedrooms. The church is in disrepair now and will take extensive restoration to bring back to its original beauty, but we are committed to maintaining the current details and aesthetic of the existing historic building. We are also proposing all new landscaping as well as renovating the adjacent City pocket park as part of this project.
LOCATION: 2744 E. 11th Street
TYPE: Affordable Mixed Use Housing
Our vision for the Lucasey Lofts is to create a transit-oriented ecosystem of 200+ European style artist-lofts with a shared work/live component, while retaining the building’s industrial aesthetic. Riaz Inc. will apply its extensive East Bay experience in designing, developing and managing this project to create a refined product that appeals to the growing Bay Area workforce.
The future site of the Lucasey Lofts is currently a large manufacturing facility in the Jingletown district of Oakland. The property is within walking distance of Fruitvale BART Station and to the new “Brooklyn Basin” development under construction (3,000 new residential units to be completed in 2018).
LOCATION: 2350 Hannah Street, Oakland, CA
TYPE: Ground Up Mixed Use
PHASE: Entitled | Permitting
Hannah Park is a ground up mixed use project consisting of a 4-story mixed use property with 51,120 square feet of residential and 2,784 square feet of ground floor retail. The project is comprised of 94 One-Bedroom units averaging 588 square feet, 16 Studio units averaging 520 square feet, and 12 junior one bedrooms consisting of 503 square feet, for a total of 90 units. The project also offers large roof deck amenity for tenants.
LOCATION: 2060 Jackson Street, SF, CA 94115
TYPE: Luxury Condos
PHASE: Sold 2011 | 3 Year Hold
PURCHASE PRICE: $4.29M
SALE PRICE: $13.55M
Jackson Place is a 3 unit condominium building in the Pacific Heights neighborhood of San Francisco that underwent a full interior gut renovation with garage and roof deck with pent room additions. The result was a luxury condominium building with all the amenities and functional benefits of a modern condo tower, situated in a boutique San Francisco building in the City’s most classic and prestigious neighborhood.