Marcus & Millichap Arranges The Sale Of A 24-Unit Apartment Building

Hayward, CA, – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Pinehurst Apartments, a 24-unit apartment property located in Hayward, California, according to Jeffrey M. Mishkin, Regional Manager of the firm’s Oakland office. The asset sold for $3,900,000.

image004David Weglarz, Senior Associate in Marcus & Millichap’s Oakland office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured and represented by David Weglarz.

Pinehurst Apartments is located at 29359 Dixon Street in Hayward, California. The complex consists of 10 two-bedroom/two-bath units, seven two-bedroom/two-and-one-half-bath townhouses and seven three-bedroom/two-bath units, totaling 21,023 rentable square feet. The four structures were built in 1992 of wood construction on concrete foundation with wood siding and pitched composition shingle roofs. The gated 36,590-square foot lot contains two on-site laundry rooms, a kid’s play area and one assigned parking space per unit, with ample additional parking (some tuck-under). There is also extra storage space on the property. Situated near Mission Hills Golf Course at the foothills of Garin/Dry Creek Pioneer Regional Parks, Pinehurst Apartments is within walking distance of the South Hayward BART Station and close to Mission Boulevard (Highway 238).

About Marcus & Millichap
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 6,149 transactions in 2012, 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.

West Coast Commercial Real Estate News