Marcus & Millichap Sells An Eight-Unit Apartment Building

SAN LEANDRO, CA, June 12, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of 118 Euclid Avenue, an eight-unit apartment property located in San Leandro, California, according to Jeffrey M. Mishkin, First Vice President/Regional Manager of the firm’s Oakland office. The asset commanded a sales price of $1,000,000.

David Wolfe, Vice President of Investments, and Eli Davidson, both specialists in Marcus & Millichap’s Oakland office, had the exclusive listing to market the property on behalf of the seller, a private investor.

The subject property consists of two one-bedroom/one-bath units, five two-bedroom/one-bath units and one three-bedroom/two-bath unit. Each apartment contains wall-to-wall carpeting, linoleum kitchen and bathroom floors and in-unit circuit breakers. Some units have granite countertops, and each unit is separately metered for gas and electricity. Constructed in 1965 of wood frame with stucco, 118 Euclid Avenue features manicured foliage and one off-street, covered parking space per unit. Many units on the 9,600-square foot lot have updated interiors, and the roof was replaced in 2006 with a modified bitumen roof. BART and Interstate 580 are easily accessible from 118 Euclid Avenue, which is also located less than one mile from downtown San Leandro.

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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 5,085 transactions in 2011, 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