Marcus & Millichap Arranges Sale of 6-Unit Apartment Building in Oakland for $692,000

image019OAKLAND, CA, August 17, 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 1560-1568 36th Avenue, a six-unit apartment property located in Oakland, California, according to Kent R. Williams, Regional Manager of the firm’s Oakland office. The asset sold for $692,000.

David Wolfe, First Vice President Investments, and Erik Tollefsen, investment specialists in Marcus & Millichap’s Oakland office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was also secured and represented by David Wolfe and Erik Tollefsen.

Constructed in 1950, the subject property consists of a fourplex and an adjoining house on a corner lot. The fourplex features two one-bedroom/one-bath units and two two-bedroom/one-bath units. The house contains one non-conforming studio unit downstairs and one two-bedroom/one-bath unit upstairs. An on-site laundry room, two garage spaces and three uncovered parking spaces are also included on the 4,320-square foot lot. 1560-1568 36th Avenue is located two blocks from the Fruitvale BART Station and near Interstate 880.

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

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