Marcus & Millichap Arranges the Sale of a 10-Unit Apartment Building

Marcus & Millichap, Antioch, residential real estate news, San Francisco, Brentwood

ANTIOCH, CA, November 17, 2014 – 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 10-unit apartment property located in Antioch, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $1,260,000.

unnamedJon Holmquist, an investment specialist in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.  The buyer, a private investor, was secured and represented by Jon Holmquist.

The subject property at 3116 Lone Tree Way in Antioch, CA has great frontage on a major thoroughfare connecting the City of Antioch to Brentwood, CA.  The property benefits from a quiet garden like setting with the units set back from the street, thus giving the benefit of signage and steady tenant supply, with the advantage of a serene complex.  The complex was built circa 1990 and features a modern design with a well thought-out layout of unit interiors.  The property is configured with ten two-bedroom/one-bath units each of approximately 827 square feet.  Unit interiors have all the desirable advantages of newer construction such as dishwashers, garbage disposals, in-unit washer dryer hookups, and individual enclosed garage parking with roll-up doors.  The kitchens feature electric stoves, and frost free refrigerators, and bathrooms feature sliding shower doors.  Both kitchen and bathroom have low maintenance linoleum floors, with the bedrooms and living room carpeted.  Each unit has an individual water heater, and an individual combined air conditioning/ heating unit.  The property was constructed in 1989.

About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment 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 6,600 transactions in 2013 with a value of approximately $24 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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