Marcus & Millichap Announces the Sale Of a 10-Unit Apartment Building in San Jose, California

SAN JOSE, Calif., July 11, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 10-unit apartment property located in San Jose, California. The asset sold for $4,300,000.

"The investment appeal of this asset is driven by San Jose's strong employment fundamentals and low vacancy levels, " shared Eymon Binesh, first vice president investments in Marcus & Millichap's Palo Alto office, "With a world-class location in Silicon Valley, this property presents an attractive choice for South Bay renters due to its proximity to major employers, transportation corridors, shopping, dining and entertainment options." Binesh, Adam Levin and Robert Johnston, investment specialists in Marcus & Millichap's Palo Alto office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

The property is located at 544 South Sixth Street in San Jose, California. Situated on a 11,868 square-foot parcel of land, the subject property was originally constructed in 1969 and has a gross building area of approximately 7,970 square-feet, offering its tenants 100% beautifully designed two-bedroom floor plans with in-unit washers and dryers. The subject property has recently undergone significant capital improvements with nine of the 10 units being completely remodeled and renovated with new wood flooring, stainless steel appliances, updated kitchens, granite countertops, in-unit washer dryers and on-site parking and storage. As part of Silicon Valley, this location offers renters quick access to many of the nation's top tech employers including Apple, Google, Tesla, Facebook, IBM, Intel, Yahoo, Cisco Systems, Adobe Systems, LinkedIn as well as many others.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.