4-Unit San Francisco Apartment Building Sells for $3.05MM

SAN FRANCISCO, CA, May 9, 2017 – 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 4-unit apartment property located in San Francisco, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $3,050,000.

Philip Batlin and Clinton Textor, investment specialists in Marcus & Millichap’s San Francisco office and Kevin J. King, investment specialist in Marcus & Millichap’s Long Beach office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

The subject property is located at 531-535 Dolores Street in San Francisco, CA. The property consists of four-units and three-car parking. There are two, large one-bedroom units in the front building that have been extensively updated with new counters, floors, cabinets, a dishwasher and in-unit laundry, as well as a large two-bedroom unit with original details. The rear building has a spacious and bright one bedroom unit over a large storage area. The front building also has an un-warranted studio space on the ground floor. Two of the apartments have views directly onto Dolores Park. The subject property was constructed in 1923.

About Marcus & Millichap (NYSE: MMI)
With over 1,700 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 2016 with a value of approximately $42.3 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

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