6-Unit Concord Apartment Building Sells for $1.67MM

CONCORD, CA, April 27, 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 6-unit apartment property located in Concord, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $1,166,870.

Jon A. Holmquist, investment specialist in Marcus & Millichap’s San Francisco office and Jason N. Yukins, investment specialist in Marcus & Millichap’s Fort Lauderdale’s office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Jon A. Holmquist and Jason N. Yukins.

This well located six-unit multifamily complex at 2335 5th Avenue, Concord, CA was marketed via. a comprehensive marketing effort by Jon Holmquist, to a wide audience of buyers. The property received multiple offers with strong terms during the marketing window and the winning bid had no loan contingency with a quick inspection period. The property benefits from being only four blocks from the Concord BART Station, and a short walk to the stores, restaurants, and employment center of Downtown Concord. Built in 1969 the property is two stories, constructed of wood frame with stucco siding, and has a pitched roof.

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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