M
osser Capital is selling its Oakland apartment portfolio as rents in the city plummet. The 173-unit portfolio, listed by Colliers, has an asking price of $27.3 million, or $157,775 per unit. The properties include five buildings and two commercial storefronts near Lake Merritt and Downtown Oakland.

    The Mosser Portfolio consists of a mix of studio, one-bedroom, and two-bedroom units built between 1918 and 1972. Most apartments command full market rents, with 66% of leases signed or available since 2020. The properties were acquired by Mosser Capital in 2016 for an undisclosed price.

    Oakland's rent decline is the steepest among major US cities, falling 8.8% since last summer. Some of the listed properties have faced issues, including a 2021 lawsuit from tenants alleging illegal utility fees and harassment. A Mosser spokesperson said the firm prioritizes maintaining and improving its properties for residents.

    Mosser Capital has faced financial challenges, including defaulting on an $88 million loan in San Francisco and facing eviction from its headquarters due to unpaid rent. The company's internal turmoil has also threatened to tear it apart, with family members suing over control of the family trust.