Marcus & Millichap Arranges the Sale of a Los Angeles Area 14-Unit Multifamily Property

WHITTIER, Calif., February 27, 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 The Obert Arms, a 14-unit apartment property located in Whittier, California. The asset sold for $3,190,000.

“Marcus & Millichap have worked with this seller before, which added to the ease of this transaction. We had multiple offers, had a no financing contingency period and the property was sold as is,” said Tyler Leeson, executive managing director investments in Marcus & Millichap’s Orange County office. Leeson and Matthew J. Kipp, first vice president investments in the firm’s Orange County office had the exclusive listing to market the property on behalf of the seller, PI Properties No. 54, LLC. The buyer, FC Obert 14, LLC, was procured by Alex Figueroa.

The Obert Arms is a multifamily investment opportunity located at 11506 Obert Avenue in Whittier, California. It offers a desirable mix of four (4) one-bedroom and ten (10) two-bedroom units and amenities situated in a predominantly single-family residential neighborhood.

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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.