EL SOBRANTE, CA, June 16, 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 4264-4276 Appian Way, a nine-unit apartment property located in El Sobrante, California, according to Kent R. Williams, Regional Manager of the firm’s Oakland office. The asset sold for $1,800,000.
Ethan H. Pintard, Associate Vice President Investments 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 limited liability company, was also secured and represented by Ethan Pintard.
The subject property consists of four buildings situated on one parcel of approximately 37,810 square feet. Constructed in 1942, the original structure is a four-bedroom/two-bath house of approximately 1,700 square feet. A second structure consists of four identical single-story, walk-up style apartments. The two other buildings were constructed as separate duplexes and feature single-story apartments with gated backyards and attached, enclosed garages. The three buildings separate from the house consist of eight two-bedroom/one-bath units. In total, the four buildings contain 8,686 rentable square feet. The lot also features open space for tenants to enjoy and ample parking spaces. Located just off of San Pablo Dam Road, 4264-4276 Appian Way is minutes from Interstate 80.
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