SAN FRANCISCO, CA, July 27, 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 a five-unit apartment property located in San Francisco, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $2,980,000.
Nick Bonn and Clinton Textor, investment specialists in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was secured and represented by Ryan Morita and Zoran Labudovski, investment specialists in Marcus & Millichap’s San Francisco office.
2512-2520 Polk Street is a well-maintained apartment building in one of the best locations of San Francisco. Situated on the lower west side of Russian Hill, this property is surrounded by popular cafes and restaurants, boutique shops, and community friendly grocery stores and fitness centers. It is just a short walk to the neighborhoods of the Marina, Cow Hollow, Pacific Heights, and Nob Hill.
The building consists of one large two-bedroom/two and a half-bath apartment and four large two-bedroom/one-bath apartments. All of the units have hardwood floors, ample natural light, high ceilings, and practical layouts. In addition, there is a one car garage rented to a non-resident as well as three storage units. The building is separately metered for gas and electricity. The entire property has been meticulously cared for by the same owner for 32 years.
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.