Six Unit Petaluma Apartment Building Sells for $1.6MM

Petaluma, Marcus & Millichap, Bay Area, San FranciscoPETALUMA, CA, September 7, 2016 – 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 six-unit apartment property located in Petaluma, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $1,645,000.

Erich Reichenbach, an investment specialist 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 subject property is located at 308 Vallejo Street in Petaluma, CA. The subject property presents an extremely attractive opportunity to acquire a charming asset in Petaluma’s most desirable neighborhoods.

308 Vallejo Street has a level 17,589-square foot lot with five-unit and one (1) non-conforming studio. The main house was built in 1920 and has four-bedrooms/one-bath, this building sits on a new foundation. The other four units (4) are two-bedroom/one and a half-bath townhouse style apartments. This units are spacious and have nice individual gardens and plenty of off street parking.

About Marcus & Millichap (NYSE: MMI)
With over 1,600 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 8,700 transactions in 2015 with a value of approximately $37.8 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

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