NAI Northern California Represents $4.47MM Sale of 33-Unit Residential Hotel in San Francisco

SAN FRANCISCO, CA – DECEMBER 16, 2016

NAI Northern California, a member of the world’s premier managed network of commercial real estate firms, is proud to announce the purchase of a 33-unit Multifamily property located at 376 Ellis St. in San Francisco, CA. A team of NAI agents represented the buyer in the $4.47 million dollar sale of the building.

Built in 1911, the property features 33-unitl units with a ground floor retail space. The building is in close proximity to public transportation, Union Square, and a number of major retailers in downtown San Francisco. “We were able to successfully represent a long-term San Francisco real estate investor who has an extensive background in rehabbing under performing SRO/ hotels properties,” said Leasing & Sales Advisor Alex Barker. “Given our team’s understanding of the local market, we were able to provide our client with professional real estate guidance, which ultimately resulted in a successful transaction for all parties involved.”

According to Vice President of NAI, Kent Mitchell, “NAI executed on this transaction because of the dedication of its team to see a project through the many months of effort that are often required to execute a successful transaction. It’s a testimony to the depth of the NAI team that we never gave up on a property that was going to get sold. We got it sold.”

About NAI Northern California

NAI Northern California is full service commercial real estate firm in the San Francisco Bay Area and part of NAI Global, the largest managed network of Commercial Real Estate Brokerage Service firms in the World. Recognized as one of the Top 25 Commercial Real Estate Firms by the East Bay and San Francisco Business Times, NAI Northern California provides comprehensive brokerage, leasing, debt, advisory, and property management services for corporate end users, property owners, developers, investors and financial institutions.

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