Levin Johnston Negotiates Two Multifamily Sales in California Totaling $32.1M
REDWOOD CITY, CALIF. — Levin Johnston of Marcus and Millichap has negotiated the sales of two multifamily assets located in Redwood City. The combined sales price was $32.1 million. Adam Levin and Robert Johnston of Levin Johnston handled the transactions.
In the first deal, a private equity investment firm sold 180 Flats, a 48-unit apartment community in Redwood City, for $21.7 million. Built in 1964, the property features studio, one- and two-bedroom apartments with open floor plans, walk-in closets, private balconies and state-of-the-art appliances. Community amenities include two open community courtyards with barbecue areas and a new dog park. Levin Johnston represented the seller in the deal.
In the second transaction, Levin Johnston arranged the $10.4 million acquisition of a 23-unit apartment community located at 3520-3540 Farm Hill Blvd. in Redwood City. Built in 1959, the property is in close proximity to local schools, dining, shopping and entertainment.