SAUSALITO, CA, March 14, 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 a two-unit apartment property located in Sausalito, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s office. The asset sold for $1,305,000.
Erich Reichenbach, an investment specialist in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a private investor.
The subject property is located at 126-128 Woodward Avenue in Sausalito, CA. 126-128 Woodward Avenue offers investors a very compelling opportunity in Sausalito. Recently renovated, the property offers spectacular views of San Francisco Bay and Mount Tamalpais. The property is close to downtown Sausalito and an easy commute to San Francisco. Woodward Avenue is located in a quiet neighborhood with ample street parking and great weather. The building offers a superior location with large units with flexible floor plans, new windows and beautiful interior finishes. The property features high income rental units with low maintenance costs and is simple enough to manage for first time investment property buyers. This property offers investors a unique and rare opportunity to acquire a premier two-unit property in Sausalito. The property was constructed in 1961.
About Marcus & Millichap (NYSE: MMI)
With over 1,500 investment 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 7,600 transactions in 2014 with a value of approximately $33.1 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