San Francisco Apartment Asset Sells for $1.4MM

Marcus & Millichap, San Francisco, Bay Area,

Marcus & Millichap, San Francisco, Bay Area,SAN FRANCISCO, CA, April 6, 2017 – 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 4-unit apartment property located in San Francisco, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $1,415,000.

Clinton Textor and Nick Bonn, investment specialists in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was secured and represented by Joseph Levy, an investment specialist in Marcus & Millichap’s San Francisco office.

The subject property is located at 3134-3136 24th Street in San Francisco, CA. The property is on the thriving retail strip of 24th Street and is surrounded by popular restaurants, bakeries, cafes, and shops. Nearby business include Philz Coffee, Adobe Books, Wise Sons Deli, and La Taqueria. The property is just three blocks from the 24th St Mission Bart Station.

The building includes four legal units, two unwarranted units, and a vacant garage. The four legal units are made up of two two-bedrooms and two-studio apartments. The two unwarranted units are studio apartments. The vacant garage offered the buyer the potential opportunity to convert the space to a commercial unit for office or retail use.

About Marcus & Millichap (NYSE: MMI)
With over 1,700 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 2016 with a value of approximately $42.3 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

West Coast Commercial Real Estate News