SAN RAFAEL, CA, December 21, 2016– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a 11-unit apartment property located in San Rafael, CA at a closing price of $3,645,000.
Jon A. Holmquist, an investment specialist in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, and the closing set a record benchmark metric of $620 per square foot. The property, located at 1476 Lincoln Ave in San Rafael, CA, consisted entirely of 1bedroom/1bath units which were all recently renovated, and the property is walking distance to Downtown San Rafael.
About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com