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| Apartment community at 1504 S Claremont, which features eight-units and is located in San Mateo, CA |
San Mateo, 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
completed the following transactions:
An
8-unit multifamily community in San Mateo for $2.8 million, a 10-unit
multifamily community in Burlingame for $5.6 million, and a second Burlingame
community with 5-units for $3.1 million.
Levin Johnston represented both the buyer and
the seller in the transactions.
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| Robert Johnston |
“San Mateo’s impressive market fundamentals are largely driven by the region’s strong employers, which are continuously rebounding from the effects of the pandemic and exhibiting impressive signs of job growth recovery,” explains Johnston.
“In fact, the low unemployment
rate in San Mateo County of 2.2% demonstrates the
abundance of job opportunities and stable growth of the labor force, making San
Mateo County’s local economy one that continues to attract renters and
investors to the area.”
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| Adam Levin |
According to Levin Johnston’s Executive Managing Director Adam Levin, the sale and quality of this portfolio speaks to the firm’s increased deal volume of recent months.
“The Levin Johnston team successfully
closed 60 transactions valued at $466 million by end of Q2,” says Levin.
“Our transaction volume during the first half of
this year consisted of transactions across a variety of asset types and
submarkets, demonstrating our expertise in successfully closing deals that meet
the diverse needs of investors, as well as our ability to be nimble and
adaptable during unprecedented times, allowing us to consistently bring deals
to the finish line.”
Properties in the
portfolio include:
1504 S Claremont Avenue, San Mateo
1101 Laguna Avenue, Burlingame
CONTACTS:
Anthea
Davis / Tess Hezlep
(949)
438-6262