Levin Johnston of Marcus & Millichap represented the seller and procured the buyer in the sale of a portfolio comprising three Silicon Valley multifamily properties totaling 33 units. The assets, located in Menlo Park, Santa Clara and Sunnyvale, sold for more than $13.4 million. The Levin Johnston team of executive managing directors Adam Levin and Robert Johnston and associate director investments Jessica Tomasetti completed the transaction.
“The seller held these vintage assets, still largely in their original condition, for several years and was looking to trade into fully remodeled assets,” said Levin. “We identified an opportune time to take advantage of current market conditions and sell the portfolio amidst rejuvenated interest in the Silicon Valley and San Francisco Bay Area and the region’s unmatched employment, networking, and access to high-quality urban and suburban living.”
The multifamily properties in the portfolio include the 10-unit 119 Crescent Ave. in Sunnyvale, the 15-unit 700 & 710 Coleman Ave. in Menlo Park and the eight-unit 3331 Princeton Way in Santa Clara.
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