We are a co-living community located in a 13-bedroom mansion at 390 Euclid Ave, Oakland, CA 94610. For the last 10 years our house has been owned by a Japanese investment firm called TriLink Partners, but lately they have been missing their mortgage payments on several properties, and our home is now in foreclosure and may be sold soon. The owners are still trying to work something out with the lender and they are also open to arranging a sale prior to the auction.
This unique, community-rooted house has been a creative and collaborative community hub for almost a decade. We’re hoping to find a buyer who shares our values and vision — ideally someone from our extended network who understands how important keeping it is to keep community alive. If you or someone you know might be interested in purchasing this special home and helping continue its story, please reach out or pass this along. We would be happy to give you a tour, introduce you to the owners, and set you up for success. We must act fast!
Learn more about our community and see photos
The house, built in 1910, is a 13 bedroom mansion located a block north of Lake Merritt in the Adams Point neighborhood of Oakland, very close to the Grand Lake Theatre. We have a detached carriage house in the back (new construction since the home was last purchased in 2015), a basement, 2.5 kitchens, a garage for storage, a bike storage shed, a piano, 3 fireplaces, and definitely no ghosts. Here is the floor plan:
Euclid_Floor Plans_Numbered.pdf
It’s crazy that this house last sold for as low as it did. You will get a bargain. The current monthly rent we all pay adds up to $21,600, more or less. That’s with no vacancies, and right now we have two vacancies, although we have an active pipeline of resident candidates we’ve begun interviewing. On a $1.8M mortgage, that $21.6k rent gives you a 9% capitalization rate, which is double–yes, double—the average cap rate of an Oakland property (with additional income potential when all rooms are filled).
Speaking of money, that’s the nice thing about buying a home with a community that everyone is happy to be a part of: We do all of the work to market the rooms and fill the home ourselves, and happy tenants = lower turnover.
The other money thing: The house is old and there are lots of things one might improve, but overall it’s in fine shape. There is one exception which is the electric system. I mean, we’re just using it and everything seems fine, but an inspector would say that it’s a disaster, so assume you have to drop $50k or so to rewire the whole house. This is important because: 1) Safety! 2) This is a prerequisite to installing a new subpanel so we can finally get a sauna and a proper EV charging setup. We have a nice solar panel system at least, but that’s lipstick on a pig.
Because it’s a community hub. It’s a well-known event space that has hosted hundreds of events, including concerts, workshops, parties, fundraisers, theater performances, and more. We’d invite you to our next concert, but you have to buy the house before then, sorry! Please refer to this other page for photos, more about our events, news stories about our home, etc:
https://principled-jaw-671.notion.site/Euclid-Manor-37ea68a28c454481b68dcb11598a6e95