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

San Mateo, CA, – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a five-unit apartment property located in San Mateo, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $1,450,000.

image003Matthew Carruthers and Philip Batlin, investment specialists 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, 1734 South Grant Street, offers an investor the unique opportunity to own and operate a centrally located property in one of the most stable and desirable submarkets in the Peninsula Area, moreover, in the Bay Area.

Built in 1958, the subject property sits in a prime location and has been remarkably well maintained by the current owners. With its central location, this asset offers convenient transportation options for its tenants. Both San Mateo areas Cal Train stations are close by; furthermore, with Freeway 92 situated down the street, both Highways 101 and 280 are easily accessible. El Camino Real is a few blocks away and functions as a major artery through San Mateo. This provides investors the opportunity to own an asset located near many of the Bay Area’s largest employers, most popular local attractions, and all three airports in the Bay Area. The charming and lively downtown area of San Mateo is close by and features a number of great boutique shops, good restaurants, and the San Mateo Century 12 Theatre. In the opposite direction and just south of Freeway 92, the Hillsdale Mall conveniently sits along El Camino Real and offers plenty of opportunity for jobs and entertainment for tenants.

About Marcus & Millichap
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