The Levin Johnston team at Marcus & Millichap closed the sales of two San Francisco Peninsula multifamily apartment communities totaling 31 units. Executive managing directors Adam Levin and Robert Johnston represented the seller in the $10.15-million trade of Hawthorne Apartments, a 15-unit property located at 325-327 Hawthorne Ave. in Palo Alto; and represented the seller and procured the buyer in the $7.75 million trade of 225 Catalpa St., a 16-unit apartment community in San Mateo.
“Increasingly, investors who have accumulated wealth through the technology sector, like the buyers in these transactions, are seeking opportunities to transition capital into income-producing real estate assets that offer cash flow, diversification, and long-term value creation,” said Levin.
He continued, “High-quality apartment communities in markets like Palo Alto and San Mateo provide the opportunity for stable income, wealth preservation, and favorable tax treatment through depreciation, while offering exposure to some of the strongest real estate fundamentals in the country.”
