Russian Hill Apartments Trade After 50 Years of Family Ownership
Marcus & Millichap arranged the sale of two multifamily properties at 1159-1169 and 1067-1071 Union St. in San Francisco’s Russian Hill neighborhood. Totaling 11 units, the properties sold for a combined $6.25 million after more than 50 years under the same family ownership.
“This was the first time either property had been brought to market in more than 50 years, creating a rare opportunity to acquire two well-located RussianHill assets from a long-term owner,” said Philip Batlin, managing director investments. “We marketed the properties both individually and as a portfolio, generating multiple offers on each. Ultimately, selling them together allowed the ownership to capitalize on the scale of the combined offering and select the strongest overall proposal.”
Batlin, Clinton Textor, Sam Runco and Jordan Tong, investment specialists in Marcus & Millichap’s San Francisco office, marketed the properties on behalf of the seller, and procured the buyer, Ballast.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout