EL SOBRANTE, CA – 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 10-unit apartment property located in El Sobrante, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $1,580,000.
Jon Holmquist, an investment specialist in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
The subject property is located at 4861 Appian Way in El Sobrante, CA. The property improvements were constructed circa 1963 and consist of ten desirable 735-square foot two-bedroom/two-bath units with five on the bottom floor each with a patio, and five stacked above on the second floor, each with a balcony. All ten-units have had major renovations to the kitchens and bathrooms with granite countertops in all units, and high end bathroom finishes in eight of the ten-units. The complex is situated on a large 16,727-square foot parcel and features attractive but easy to maintain landscaping. Construction is of wood frame with stucco siding, a flat roof, double paned windows throughout, and a concrete slab foundation.
About Marcus & Millichap (NYSE: MMI)
With nearly 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.