Marcus & Millichap Brokers Silicon Valley Multifamily Asset Sale
October 31, 2025
SAN JOSE, Calif., Oct. 31, 2025 – 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 Atrium Garden, a 160-unit multifamily property in San Jose, California. The asset traded for $18,485,000, which equates to $115,531 per unit.
“Atrium Garden’s furnished studios are the ideal configuration for contract workers and short-term corporate housing in a market driven largely by the high-tech industry,” said Mitchell Zurich, senior managing director investments in Marcus & Millichap’s Palo Alto office. “We expect the market for Silicon Valley multifamily assets to remain tight as additions to supply have declined substantially in recent years and the population continues to grow.” Zurich and Marcus & Millichap’s Kirk Trammell and Joshua Johnson represented the seller and procured the buyer.
The property is in North San Jose, close to the Santa Clara Valley Transportation Authority’s Gish light rail station, near State Route 87, U.S. Highway 101, and Interstate 880. San Jose Mineta International Airport, the Santa Clara County Government Center, and San Jose Heritage Rose Garden are nearby. Within one mile of the property, annual median income is over $151,000.
Constructed in 2000, Atrium Garden is a four-story building with 159 studios and a one-bedroom manager’s apartment. Studios are furnished with a bed, bedside table and lamp, lounge chair, built-in desk and chair, television, microwave, mini-fridge, and stove or hotplate. Community amenities include a leasing office, fitness center, media rooms, resident lounges, community kitchens, laundry facilities, and outdoor barbecue and lounge area.
“Atrium Garden’s furnished studios are the ideal configuration for contract workers and short-term corporate housing in a market driven largely by the high-tech industry,” said Mitchell Zurich, senior managing director investments in Marcus & Millichap’s Palo Alto office. “We expect the market for Silicon Valley multifamily assets to remain tight as additions to supply have declined substantially in recent years and the population continues to grow.” Zurich and Marcus & Millichap’s Kirk Trammell and Joshua Johnson represented the seller and procured the buyer.
The property is in North San Jose, close to the Santa Clara Valley Transportation Authority’s Gish light rail station, near State Route 87, U.S. Highway 101, and Interstate 880. San Jose Mineta International Airport, the Santa Clara County Government Center, and San Jose Heritage Rose Garden are nearby. Within one mile of the property, annual median income is over $151,000.
Constructed in 2000, Atrium Garden is a four-story building with 159 studios and a one-bedroom manager’s apartment. Studios are furnished with a bed, bedside table and lamp, lounge chair, built-in desk and chair, television, microwave, mini-fridge, and stove or hotplate. Community amenities include a leasing office, fitness center, media rooms, resident lounges, community kitchens, laundry facilities, and outdoor barbecue and lounge area.
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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.
