Marcus & Millichap Arranges Sale of 6-Unit Multifamily Asset in Berkeley, CA. for $2.5MM

Marcus & Millichap, Berkeley, California, Oakland, San Francisco, College Avenue, UC Berkeley, Telegraph Avenue

BERKELEY, CA (October 1, 2018) – 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 2629 Piedmont Avenue, a six-unit apartment property located in Berkeley, California, according to David C. Nelson, Regional Manager of the firm’s Oakland office. The asset sold for $2,500,000.

Jon A. Holmquist, Senior Managing Director Investments in Marcus & Millichap’s San Francisco office, and William Waters, 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.

The subject property consists of one studio unit, four one-bedroom/one-bath units and one owner’s unit, totaling 3,735 rentable square feet. Constructed in 1910, the building features a Craftsman-style interior with original details. The 0.16-acre lot is situated in a quiet neighborhood with minimal traffic just off of College Avenue. The UC Berkeley campus and the shops of Telegraph Avenue are also within walking distance.

About Marcus & Millichap
With over 1,800 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 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap 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