Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has successfully directed four multifamily property trades totaling $36.25 million in Redwood City, California.
“The Redwood City submarket is a hub of investment activity for buyers seeking to deepen the value of their portfolio, and sellers leveraging current market fundamentals to achieve value,” says Adam Levin, senior managing director of Levin Johnston. “This is a market with high barriers to entry, minimal competitive supply, and an economy that continues to grow rapidly, fueled by tech job growth and rental demand.”
The city posted job growth of 3.8 percent in the past year and is projected to grow by 44.6 percent in the next ten years—higher than the U.S. average of 38 percent.
“As this growth and demand continues, we are increasingly generating creative solutions to help multifamily investors create long-term value,” says Robert Johnston, senior managing director of Levin Johnston. “These recent transactions demonstrate the continued strength of the Bay Area multifamily investment market.”
Levin Johnston’s recent transactions include:
$10.45 Million Acquisition of Farm Hill Apartments: Levin Johnston directed the acquisition of a 23-unit apartment community on Farm Hill Boulevard in Redwood City for a total consideration of $10.45 million. Originally built in 1959, the property presents a value-add opportunity for the buyer, a private investor who was represented by Levin Johnston in the transaction.
$21.8 Million Sale of 180 Flats: Levin Johnston also recently directed the $21.8 million sale of 180 Flats, a 48-unit apartment community in Redwood City. Levin Johnston represented the seller, a private equity investment first, in the transaction.
Sale of a Five-Unity Multifamily Property in Silicon Valley: Levin Johnston also directed the sale of a five-unit multifamily property located on Standish Street in Redwood City for $2.1 million. Adam Levin and Robert Johnston represented both the seller and buyer—both private investors—in the transaction.
Duplex Sale in Downtown Redwood City: Levin Johnston also directed the sale of a 4,098 square-foot duplex situated in the heart of downtown Redwood City, in close proximity to U.S. Route 101 as well as Interstate 280, Highway 92 and the San Mateo and Dumbarton bridges. Levin Johnston represented both the buyer and seller in the $1.8 million transaction.