EL SOBRANTE, CA, October 24, 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 a 5-unit apartment property located in El Sobrante, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $750,000.
Jon Holmquist, an investment specialist in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Jon Holmquist
This subject property is located at 437 Corte Arango in El Sobrante, CA. The subject property is very well-maintained with high quality finishes on both exterior and interior of the complex. The improvements consist of five large two-story 853-square foot two-bedroom/one and a half-bath townhouse style units with tuck under parking, individual fenced cement patios or wood decks for each unit, and a large wooden common area balcony. The current owner has highly renovated and improved the units, and each unit features newer appliances and fixtures, granite kitchen tops and backsplashes, granite tile kitchen flooring, granite tile bathroom flooring, new carpets, and new paint. The complex is situated on a 7,565 square foot parcel and features attractive but easy to maintain landscaping that has great curb appeal. The property was constructed in 1965.
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