Marcus & Millichap Arranges Sale of South City Apartment Building

SOUTH SAN FRANCISCO, CA, May 11, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Antoinette Apartments, a 24-unit apartment property located in South San Francisco, California, according to Jeffrey M. Mishkin, First Vice President/Regional Manager of the firm’s Oakland office. The asset commanded a sales price of $3,800,000.

Tony Jalili, an investment specialist in Marcus & Millichap’s Oakland office, had the exclusive listing to market the property on behalf of the seller, a private investor.

Antoinette Apartments is located at 942 Antoinette Lane. The complex contains five two-story, wood frame and stucco buildings with landscaped entrances on the perimeter and 24 covered parking spaces in the center of the property. The 15,500 rentable square feet consists of two studios, 14 one-bedroom/one-bath units and eight two-bedroom/one-bath units. Constructed in 1965, the property has been well maintained, with half of the units being completely remodeled. The 0.44-acre lot features an on-site laundry facility, as well as two large storage areas, a shop area, a separate hot water heater room and a small, private storage area that has a bathroom and a sauna.

Located on a quiet cul-de-sac one block off of El Camino Real, Antoinette Apartments is one of only three properties on Antoinette Lane, resulting in very little traffic and ample street parking. There is a Safeway-anchored shopping center at the corner, with Kaiser Medical Center and California Golf Club located nearby.

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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 5,085 transactions in 2011, 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