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Trio of Bay Area MF’s Trade Hands for $34M
Levin Johnston of Marcus and Millichap directed three Bay Area multifamily property sales for a total consideration of $34.32 million. The firm’s Adam Levin and Robert Johnston represented the unnamed seller as well as buyer.
Levin says, “In this transaction, we were able to procure a strong buyer who recognized the long-term investment opportunity, and that by purchasing the three properties, which are part of a six-property portfolio, they would benefit from economies of scale. As a result, we were able to secure an attractive sales price for our seller.”
The three properties in the portfolio included:
– 1234 Sunnyvale Saratoga Rd. in Sunnyvale, a 34-unit property that is situated on 1.28 acres, which sold for roughly $15.3 million (pictured).
– 100 Oak Rim Way in Los Gatos, a 24-unit property on 1.15 acres, which sold for roughly $11.52 million.
– 2905 Old Almaden Rd. in San Jose, a 25-unit property situated on 0.7 acres that sold for roughly $7.5 million.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
