Press Releases
Marcus & Millichap Arranges the Sale of a Six-Unit Apartment Building in Palo Alto, California
December 04, 2024
PALO ALTO, Calif., December 4, 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 4185 Byron Street, a six-unit apartment property located in Palo Alto, California. The asset sold for $2,500,000.
“4185 Byron Street is a stunning six-unit investment opportunity located in the thriving city of Palo Alto. The investment appeal of this asset is driven by Palo Alto’s incredibly strong employment fundamentals and low vacancy levels,” shared Eymon Binesh, first vice president investments in Marcus & Millichap’s Palo Alto office. “With a world-class location in the heart of Silicon Valley, the property is an attractive choice for Peninsula renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options” Binesh, Adam Levin, and Robert Johnston, investment specialists in the firm’s Palo Alto office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, an individual/personal trust, was also procured by Levin, Binesh and Johnston.
Built in 1958, 4185 Byron Street is conveniently located near Downtown Palo Alto, home to a myriad of high-end shopping, dining and entertainment options. The asset provides tenants and residents close proximity to many of the nation’s top employers including Stanford, Box, Inc., Google, Oracle, Electronic Arts, Inc. (EA), Facebook, Cisco Systems, Visa, Sony and many others. In addition, tenants and residents enjoy access to numerous transportation corridors including U.S. Route 82, U.S. Route 84, U.S. Route 101, Interstate 280 and the San Mateo - Hayward Bridge. The property consists of six 1-bedroom/1-bath units.
“4185 Byron Street is a stunning six-unit investment opportunity located in the thriving city of Palo Alto. The investment appeal of this asset is driven by Palo Alto’s incredibly strong employment fundamentals and low vacancy levels,” shared Eymon Binesh, first vice president investments in Marcus & Millichap’s Palo Alto office. “With a world-class location in the heart of Silicon Valley, the property is an attractive choice for Peninsula renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options” Binesh, Adam Levin, and Robert Johnston, investment specialists in the firm’s Palo Alto office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, an individual/personal trust, was also procured by Levin, Binesh and Johnston.
Built in 1958, 4185 Byron Street is conveniently located near Downtown Palo Alto, home to a myriad of high-end shopping, dining and entertainment options. The asset provides tenants and residents close proximity to many of the nation’s top employers including Stanford, Box, Inc., Google, Oracle, Electronic Arts, Inc. (EA), Facebook, Cisco Systems, Visa, Sony and many others. In addition, tenants and residents enjoy access to numerous transportation corridors including U.S. Route 82, U.S. Route 84, U.S. Route 101, Interstate 280 and the San Mateo - Hayward Bridge. The property consists of six 1-bedroom/1-bath units.
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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.
