Marcus & Millichap Real Estate brokered the sale of a 72-unit apartment property in San Francisco.

The value of the transaction was $20.5 million.

Carmelia Investment Corp. sold the property to San Francisco-based Nob Hill Tower DE LLC.

The property is located at 1221 Jones St. in San Francisco’s Nob Hill area. The sale included 75,062 rentable square feet. The building was constructed in 1971 and includes a unit-mix of eight studios, 40 one-bedroom and 24 two-bedroom apartments, which range in size from 500 to 1,450 square feet.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.


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