Marcus & Millichap Arranges The Sale Of A 6-Unit Apartment Building

Oakland, CA, – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 416 Staten Avenue, a 6-unit apartment property located in Oakland, California, according to Jeffrey M. Mishkin, Regional Manager of the firm’s Oakland office. The asset sold for $1,232,891.

image005David Wolfe, First Vice President Investments in Marcus & Millichap’s Oakland office, had the exclusive listing to market the property on behalf of the seller, a bank/financial institution.

Constructed in 1925, the subject property features five one-bedroom/one-bath units and one two-bedroom/one-bath penthouse. The penthouse unit contains hardwood floors, a fireplace, bonus attic, washer/dryer hookups and a private entrance with an alcove. It was delivered vacant upon close of escrow. The 6,250-square foot lot also includes three garages, an on-site laundry room and a storage room.

Situated in the Adams Point neighborhood, 416 Staten Avenue is located one block from Grand Avenue and just 1.5 blocks from Lake Merritt. Interstate 580 is also located within minutes of the property.

About Marcus & Millichap
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.

West Coast Commercial Real Estate News