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.”
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