SANTA ROSA, CA, September 25, 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 Rose Meadow Apartments, a 19-unit apartment property located in Santa Rosa, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $3,675,000.
Brad Pennington and John Garrett, 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.
Rose Meadow Apartments is located at 2150 Meadowbrook Court in Santa Rosa, CA. The property consists of a single L-shaped two-story, wood framed building with stucco and wood exterior and pitched composition roofs, sitting on approximately 1.0 acre of land. The unit mix consists of (17) three-bedroom, two bath units, (1) two-bedroom, one bath unit; and (1) one-bedroom one bath unit. The units are well appointed with gas cooking and heating, a mix of granite and formica countertops, refrigerators, dishwashers, carpet and vinyl flooring throughout, two-tone paint, vertical window blinds, and either a private patio or balcony. The property is well landscaped with mature trees, lawns, shrubbery, a picnic table, and a laundry room for the residents’ use. Every unit is provided with one covered carport and access to the additional 28 open spaces on-site. The property was constructed in 1986.
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