NAPA, CA, June 8, 2016 – 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 Villa Murialdo, a 4-unit apartment building operating as a permitted vacation rental property located in Napa, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $2,200,000.
John Garrett, 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.
Villa Murialdo is located at 1125 Division Street in Napa, CA. The property is located downtown and has (2) two-bedroom, two-bath units, and (2) two-bedroom, one-bath units. The property was built in 1993 and has been meticulously maintained. The new owner plans to continue to operate the property as vacation rentals.
About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing 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 8,700 transactions in 2015 with a value of approximately $37.8 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