Monday, October 7, 2019

Levin Johnston Directs $11.7 Million Sale of Newly-Renovated, 22-Unit Multi-Family Community in Redwood City, CA

Woodside North community, Redwood City, CA

BAY AREA, CA  Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed the $11.7 million sale of Woodside North, a fully renovated 22-unit multifamily community at 1551 Regent Street in Redwood City, California.

Adam Levin
Executive Managing Director Adam Levin and Senior Managing Director Robert Johnston represented the seller, a private high net worth investor, in the transaction.
“The investment appeal of this asset is driven by Redwood City’s strong employment fundamentals and low vacancy levels,” explains Levin. 
“Woodside North is situated in the historic downtown area of Redwood City, one mile away from the core downtown district, which is a catalyst for additional urban development and attracts high-caliber residents. Drawing upon our deep expertise in market demands and local relationships, we were able to achieve a premium sale price for our Client.”

Robert Johnston
This sale was a rare opportunity for the buyer to acquire an extensively renovated asset in the Bay Area’s Mid-Peninsula region, one of the strongest rental markets in the country, notes Levin.
The community is situated within walking distance of several shopping, dining, and entertainment options in an attractive, pedestrian-friendly district in the heart of Silicon Valley. 

The property is in close proximity to major local employers, Stanford University, and transportation corridors, with convenient access U.S. Route 101 and Interstate 280, as well as San Mateo and Dumbarton Bridges, providing direct access throughout the Bay Area.
“Woodside North is a short commute from several of the nation’s top tech employers including Google, Oracle, Facebook, Visa, and Sony, to name a few,” says Johnston.


Alex Caswell / Jenn Quader 
Brower Group
(949) 438-6262

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