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SAN FRANCISCO — Marcus & Millichap has brokered the sale of 1275-1281 8th Ave., a 28-unit multifamily property in San Francisco. A private family trust sold the asset to local value-add investors for $6.7 million, or $237,500 per unit. Eymon Binesh and Gino Franco of Marcus & Millichap’s San Francisco office represented the seller and procured the buyer in the transaction.
Built in 1926, the 17,500-square-foot property is situated on a 0.3-acre parcel at the intersection of 8th Avenue and Irving Street. The unit mix includes 14 one-bedroom units, 11 two-bedroom units, three studios and four accessory dwelling units. According to Marcus & Millichap, the buyer plans to renovate all 28 units.