Joint venture unloads San Francisco apts.
Complex includes 33 studios, 76 one-bedroom units
By Inman News, Tuesday, January 27, 2004.Inman News®
Marcus & Millichap brokered the sale of Lombard Place Apartments, a large multifamily complex in San Francisco's Russian Hill district.
The value of the transaction was $28 million.
The 109-unit community includes three seven-story buildings constructed in 1927. The total square footage of the three properties is 90,780 square feet. Each building has a parking structure behind it. The unit mix includes 33 studios and 76 one-bedroom units. Recent upgrades include new roofs, paint, windows, and electrical and hot water heating systems.
A private San Francisco Bay Area partnership sold the property to a San Francisco-based investment partnership.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
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