REBusinessOnline

38-UNIT MULTIFAMILY COMPLEX TRADES HANDS

PALO ALTO, CALIF. — Brian Henry and Bryan Danforth of Marcus & Millichap’s Palo Alto office represented both parties in the disposition and acquisition of Mayfield Manor, a 38-unit multifamily building in Palo Alto. The transaction price was not disclosed; however, the final sales price was significantly more than the list price of $10 million or $263,985 per unit. Located at 408 Grant Ave., the 32,880-square-foot four-story building offers a mix of studio, one- and two-bedroom units. Community amenities include a swimming pool, a lounge area, a recreation room, a coin-operated laundry, a fire sprinkler system, underground parking and large balconies in every unit. The buyer and the seller were not disclosed.

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