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| Adam Levin |
“Our
team’s extensive knowledge of the local market trends and demographics was
instrumental in closing all six deals,” says Adam Levin, Executive
Managing Director of Levin Johnston.
“Despite a slow start to 2023, the Bay Area’s
multifamily market shows positive headway as investor demand has ignited
through Q2. With competition on the rise, investors look to our expertise to
identify and secure lucrative properties for their portfolios.”
Representing
the sellers and sourcing the buyers, private investor clients, in each of the
six transactions, the Levin Johnston Group demonstrates their aptitude for
success in the highly specialized market.
 |
| Robert Johnston |
The assets, located in the Bay Area region, range in size and value, further demonstrating the firm’s ability to efficiently bring to market a variety of properties and leverage their significant local relationships to swiftly meet specified investor demands.
“Investors
understand the value of Bay Area multifamily assets and recognize the long-term
economic stability attributed to the region,” says Robert Johnston,
Senior Managing Director of Levin Johnston.
“By
applying our regional expertise and strong local connections, our team is able
to break through the competition to strategically market a variety of
properties and identify and secure assets that will offer our clients steady
renter demand and stable returns for years to come.”
The
closed transactions include:
454
Paula Ct., Santa Clara, California - $4.1 Million
This
9-unit apartment asset is ideally located in the prime employment hub of Santa
Clara. Many
of the largest technology companies have operations in or near Santa Clara
including Google, Apple, LinkedIn, Microsoft, Intel, Yahoo and others,
attracting high-caliber tenants with longstanding value. The key location and
desirable unit mix consisting of partially renovated studio, one-, two-, and
three-bedroom floor plans provided an exceptional acquisition prospect and drew
significant buyer activity. Despite the high interest rate environment, Levin
Johnston was able to achieve a competitive market price resulting in a win for
both their clients.
360
Chiquita Ave., Mountain View, California - $3.9 Million
Situated
within walking distance to Downtown Mountain View and San Antonio Shopping
Center, this 12-unit apartment community afforded the buyer a unique
opportunity to capitalize on location and increase value through deferred
maintenance initiatives. Select units have recently undergone capital
improvements including vinyl plank flooring and updated bathroom features.
1150
Greenwood Ave., San Carlos, California - $3.51 Million
317
Elm St., San Mateo, California – $2.75 Million
903
Adams St., Redwood City, California – Nearly $2.6 Million
Located
within walking distance to the lively downtown area, this exclusive 5-unit
asset offers tenants beautifully designed one- and two-bedroom floor plans
featuring modern unit amenities, individual water heaters, private garages, and
private enclosed patios in select units.
3719
Emerson St., Oakland, California - $2 Million
Bordered by the City of San Francisco to the north and Santa Clara County to the south, the Bay Area is one of the most highly desirable submarkets for the multifamily sector.
Connected to Silicon Valley, the highly skilled technology pool that
comes with the region has contributed to a significant uptick in growth and
prosperity for the region.
CONTACTS:
Hanna
Kokuashvili / Kiera Moran
(949) 520 - 6717
hkokuashvili@thesmartagency.com
