Press Releases
Marcus & Millichap Facilitates the Sale of Two Apartment Properties in Burlingame, California
October 24, 2024
BURLINGAME, Calif., October 24, 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 212-214 Myrtle Road and 208 Myrtle Road, both six-unit apartment properties located in Burlingame, California. The assets sold for a combined $5,800,000 or $2,650,000 and $3,150,000 respectively.
“The two properties, situated on adjoining parcels just one block from Downtown Burlingame, provided our client with a prime investment opportunity, driven by strong rental demand in one of the Bay Area's most robust markets,” stated Mitchell Zurich, senior managing director investments in Marcus & Millichap’s Palo Alto office. The buyer, a private investor, was procured by Zurich and Denis Melnichenko, investment specialist in the firm’s Marcus & Millichap’s Palo Alto office.
The properties are both conveniently located near Downtown Burlingame, which has access to many restaurants, cafes and retails stores. 212-214 Myrtle Road was built in 1928 and is approximately 4,608 square-feet, while 208 Myrtle Road was built in 1926 and is approximately 7,201 square-feet.
“The two properties, situated on adjoining parcels just one block from Downtown Burlingame, provided our client with a prime investment opportunity, driven by strong rental demand in one of the Bay Area's most robust markets,” stated Mitchell Zurich, senior managing director investments in Marcus & Millichap’s Palo Alto office. The buyer, a private investor, was procured by Zurich and Denis Melnichenko, investment specialist in the firm’s Marcus & Millichap’s Palo Alto office.
The properties are both conveniently located near Downtown Burlingame, which has access to many restaurants, cafes and retails stores. 212-214 Myrtle Road was built in 1928 and is approximately 4,608 square-feet, while 208 Myrtle Road was built in 1926 and is approximately 7,201 square-feet.
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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.
