SAN MATEO, Calif., April 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 1758 South Grant Street, a 5-unit apartment property located in San Mateo, Calif., according to Steven J. Seligman, regional manager of the firm’s Palo Alto office. The asset sold for $1,340,000.
The buyer, a private investor, was secured and represented by Mitchell Zurich, a Senior Associate out of the Palo Alto office and one of the most active multi-family investment brokers in the South Bay and Peninsula markets.
The property, located at 1758 South Grant Street in San Mateo, was built in 1959 and consists of (4) 1 bed 1 bath units and (1) 2 bed 1 bath unit. The property includes on-site laundry, covered parking and convenient freeway access.
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.