SAN FRANCISCO, CA, April 24, 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 six-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 $3,840,000.
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, a private investor. The buyer, a limited liability company, was secured and represented by Clinton Textor and Nick Bonn.
The subject property, “Queen’s Mansion” is located at 473-477 Sanchez Street in San Francisco, CA. The property consists of 6 two bedroom units and an expansive garage. The residential units were 100% occupied and the garage was delivered vacant. At the time of sale, the property was subject to the mandatory soft story retrofit program and required seismic upgrading with estimated costs of $180,000.
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