Tuesday, October 30, 2018

Levin Johnston of Marcus & Millichap directs three multifamily trades in Silicon Valley


  
Adam Levin
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 successfully closed three multifamily property transactions in the Bay Area.

“These transactions represent a new trend in investment demand in Silicon Valley and the Bay Area,” explains Adam Levin, Senior Managing Director of Marcus and Millichap’s Levin Johnston.

 “This multifamily market is exceptionally tight, with tremendous pressure on already compressing cap rates. To find the right fit for our Clients, many investors are shifting to small multifamily assets, which are still poised to provide strong returns in both the short and long term.”

Levin Johnston’s recent transactions include:

Trade of an Eight-Unit Apartment Complex in Pacifica

122 Hilton Lane, Pacifica, CA
            Levin Johnston directed the acquisition of an eight-unit apartment property on Hilton Lane in Pacifica for a total consideration of $4.3 million. Originally built in 1964, the asset was part of a 1031 exchange for the buyer, a private investor who was represented by Levin Johnston in the transaction.

            “This small property is strategically located and offers tremendous upside potential for the buyer,” says Robert Johnston, Senior Managing Director of Levin Johnston.

Robert Johnston
“The median household income in this region is almost double that of the nation, which supports high rental pricing and low vacancy rates on an ongoing basis.”

            Situated on 0.22 acres, the property is in close proximity to major employers including Kaiser Permanente, Seton Medical Center, The Home Depot and Target.

The property is located at 122 Hilton Lane in Pacifica, California.

Sale of a Triplex in Redwood City

Levin Johnston also recently directed the $2.3 million sale of a triplex in Redwood City. Adam Levin and Robert Johnston represented both the seller and buyer – both private investors – in the transaction.

1536, 1538 and 1540 Jefferson Avenue,
  Redwood City, CA
Originally constructed in 1930, the property is situated on 0.15 acres and offers a three-bedroom apartment as well as two two-bedroom apartment homes.

“This asset benefits from its proximity to Silicon Valley, making it well-positioned to attract strong rental demand from the local employment base,” says Johnston.

The triplex is located at 1536, 1538 and 1540 Jefferson Avenue in Redwood City, California.

Acquisition of a Seven-Unit Property in San Leandro

224 Callen Avenue, San Leandro, CA
Levin Johnston also directed the acquisition of a seven-unit multifamily property located on Callan Avenue in San Leandro for $1.95 million. The transaction was part of a 1031 exchange and Levin Johnston represented the buyer, a private investor.

The property was built in 1962 and is located in downtown San Leandro, giving residents easy access to shopping centers, Bart stations, regional parks and nature areas, according to Johnston.

Situated on 0.16 acres, the property is comprised of four two-bedroom/one-and-a-half-bath units, two one-bedroom/one-and-a-half-bath units and one one-bedroom/one-bath unit.

The property is located at 224 Callan Avenue in San Leandro, California.


CONTACTS:

Alex Caswell / Jenn Quader 
Brower Group
(949) 955-7940



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