24-Unit San Francisco Apartment Property Sells for $11MM

SAN FRANCISCO, CA, January 22, 2019 – 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 1599 Green St, a 24-unit apartment property located in San Francisco, CA, according to Ramon Kochavi, regional manager of the firm’s San Francisco office. The asset sold for $11,050,000, or $460,617 per unit.

Clinton Textor, Nick Bonn and Sanford G. Skeie, investment specialists in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller. The buyer was secured and represented by Clinton Textor, Nick Bonn and Sanford G. Skeie as well.

1599 Green Street is a terrific 24-unit apartment building at the crossroads of Cow Hollow and Pacific Heights – two of San Francisco’s most desirable neighborhoods. This Green & Franklin Street corner property consists of 15 one-bedrooms units and nine two-bedroom/two-bathroom units as well as twenty-four independent parking spaces. The property required a soft story retrofit to comply with city code and had some minor deferred maintenance. This vibrant location has excellent transportation options nearby on Union Street and Van Ness Avenue with numerous bus lines, tech shuttle stops and a brand-new raised transit system that is currently under construction.

About Marcus & Millichap
With over 1,800 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 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap 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

West Coast Commercial Real Estate News