Marcus & Millichap Arranges The Sale Of A 28-Unit Apartment Building

San Leandro, CA, – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Alto Apartments, a 28-unit apartment property located in San Leandro, California, according to Jeffrey M. Mishkin, Regional Manager of the firm’s Oakland office. The asset sold for $3,200,000.

image004David Weglarz, an investment specialist in Marcus & Millichap’s Oakland office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.

Alto Apartments is located at 1270 143rd Avenue and features 22 one-bedroom/one-bath units and six two-bedroom/one-bath units, totaling 14,400 rentable square feet. Constructed in 1960, the two-story structure consists of wood with a stucco exterior, concrete foundation and tar and gravel roof. The property has been well maintained and includes newer windows and paint. The 21,743-square foot lot also contains laundry facilities, which provide additional income. Conveniently located between the San Leandro Hospital and the Bay Fair Shopping Center, 1270 143rd Avenue provides quick access to Interstates 580 and 880.

About Marcus & Millichap Real Estate Investment Services
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