SAN FRANCISCO, CA, October 17, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a 30-unit apartment property located in San Francisco, CA, according to Jeffrey M. Mishkin, FVP/Regional Manager of the firm’s San Francisco office. The asset commanded a sales price of $7,000,000.
Brad Lagomarsino and James Devincenti, investment specialists in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Brad Lagomarsino and James Devincenti, investment specialists in Marcus & Millichap’s San Francisco office.
The property is located at 230 Central Avenue, San Francisco, CA. The subject property consists of 21 studios and nine, one-bedroom/one-bath units. The property was constructed in 1928.
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 5,085 transactions in 2011, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.