Fremont Apartment Property Sells for $7.8MM

Marcus & Millichap, City of Fremont, Southern Alameda County, San Francisco, Bay Area, Woodbridge Apartment Homes

FREMONT, 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 Woodbridge Apartment Homes, a 19-unit apartment property located in Fremont, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $7,775,000.

Marcus & Millichap, City of Fremont, Southern Alameda County, San Francisco, Bay Area, Woodbridge Apartment HomesJon 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. A comprehensive and thorough marketing effort by Jon Holmquist procured multiple offers, and the buyer competition allowed the seller to negotiate strong terms, with the winning bid having no loan contingency. The property closed at an impressive $542 per square foot, which set a record high, for the City of Fremont and Southern Alameda County, for a multifamily sale.

Woodbridge Apartment Homes is located at 4163 Irvington Avenue in Fremont, CA and both the unit interiors, and unit exterior were completely renovated and remodeled with high end finishes.

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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