Marcus & Millichap Arranges the Sale of Woodland Apartments, a 16-Unit Multifamily Property in San Rafael, California

SAN RAFAEL, Calif., June 6, 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 Woodland Apartments, a 16-unit apartment property located in San Rafael, California . The asset sold for $3,400,000.

“The seller sold the property to alleviate the stress of property management and 1031 exchange into a passive investment;” shared John Garrett, first vice president investments in Marcus & Millichap’s San Francisco office. “We were able to guide the seller through the 1031 exchange process to identify options that improved their cashflow and improved their lifestyle.” Garrett and Christopher P. Brennan, associate in the firm’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a private investor.

Woodland Apartments is located at 75 Woodland Avenue in San Rafael, California. The 16-unit property, financed with a market rate loan, consists of eight studios, four 1-bedrooms, and four 2-bedrooms. Conveniently located near jobs, school and major transportation corridors, three of the sixteen units were completely remodeled. Amenities include on-site parking for each unit.

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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.