May 2019
Arroyo & Company is pleased to announce the sale of Telegraph Gardens, a 39,386 square-foot, mixed-use property located at 3001 Telegraph Avenue, Berkeley, California. A leading real estate investment, development, and asset/property management firm based in Portland, Oregon purchased the property. The seller in this off-market transaction was Avi Nevo, a prolific Berkeley-based multi-family developer.
Built in 2013, Telegraph Gardens consists of 38 units that are mostly two-bedroom/two-bath residential units measuring 933 square feet on average, and four commercial units on the ground floor that average approximately 982 rentable square feet. The residential units feature designer kitchens, with many having private balconies. There are 10 floor plans, each designed to take advantage of the great light and amazing views of either the San Francisco Bay or the Berkeley Hills. The 5-story property also features two rooftop decks with a barbecue, and panoramic views of the Berkeley/Oakland Hills, the San Francisco Bay, Golden Gate Bridge and downtown Berkeley.
Arroyo & Company, headquartered in Oakland, California, represented the seller. Pedro Arroyo and Isaac Shikuma were the brokers that managed the transaction.
Please contact us if you would like a market update, opinion of value, additional information regarding this transaction, or to discuss off market opportunities. acdeals@a-c.com