OAKLAND, CA, June 30, 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 372 Santa Clara Avenue, a two-unit apartment property located in Oakland, California, according to Jeffrey M. Mishkin, Regional Manager of the firm’s Oakland office. The asset sold for $733,500, nearly $100,000 above list price.
Ken McMillen, an investment specialist in Marcus & Millichap’s Oakland office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.
The subject property consists of two two-bedroom/one-bath units, totaling 2,317 rentable square feet. Constructed in 1914, the 4,059-square foot lot also contains a private yard and garage and off-street parking. Located in the Grand Lake neighborhood of Oakland, 372 Santa Clara Avenue is within walking distance of Grand Avenue, Lake Merritt, the Amphitheater of Roses and the Grand Lake Theatre. The property also provides quick and convenient access to Interstate 580.
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