Joint venture unloads San Francisco apts.

Complex includes 33 studios, 76 one-bedroom units

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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. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story. ...