Marcus & Millichap Arranges The Sale Of A 76-Unit Apartment Building

Suisun City, CA, – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Continental Apartments, a 76-unit apartment property located in Suisun City, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $3,700,000.

image003George Inskeep and Jon Holmquist, investment specialists in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a partnership.  The buyer, a limited liability company, was secured and represented by Jon Holmquist and George Inskeep, investment specialists in Marcus & Millichap’s San Francisco office.

The Continental Apartments are situated in a quiet corner of Suisun City, just minutes from the downtown harbor and restaurants of the Historic Waterfront District. The property features attractive landscaping and grounds that present a desirable garden setting for tenants. The complex consists of three buildings on two separate parcels, comprised of seventy-six units with twenty-eight 433-square foot one-bedroom/one-bath units and forty-eight 515-square foot one-bedroom/one-bath units. Units feature gas wall heaters, individual wall mount air conditioners, gas stoves, frost free refrigerators, linoleum kitchen floors, and ceiling fans installed in both the bedroom and kitchen. Bathrooms have linoleum flooring with one piece drop in tub enclosures and sliding glass doors. Construction is of wood frame with wood and shingle siding on a concrete slab foundation, with flat roofs.  The property was constructed in 1966.

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