Marcus & Millichap Arranges the Sale of a 14-Unit Apartment Building

Marcus & Millichap, San Jose, Commercial Real Estate News, Palo Alto

SAN JOSE, CA, October 2, 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 616 & 630 South 8th Street, a 14-unit apartment property located in San Jose, CA, according to Steven J. Seligman, regional manager of the firm’s Palo Alto office. The asset sold for $2,830,000.

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Adam Levin and Alexander Budka, investment specialists in Marcus & Millichap’s Palo Alto office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, an individual/personal trust, was secured and represented by Adam Levin and Alexander Budka, investment specialists in Marcus & Millichap’s Palo Alto office.

This property is located at 616 & 630 South 8th Street in San Jose, CA.  The subject property was built in 1922 and sits on a lot about three quarters of an acre in size with 7,467 rentable square feet. The unit mix is made up of ten one-bedroom/one-bathroom apartments and four studios.

 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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