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Two Russian Hill multifamily properties sell for $6.25 million

Marcus & Millichap structured the deal as a combined portfolio of 11 units, after both buildings had not been listed for more than 50 years.

Reported · Written up by our desk · Residential

ConnectCRE reports that Marcus & Millichap arranged the sale of two multifamily properties in San Francisco’s Russian Hill neighborhood, located at 1159-1169 Union St. and 1067-1071 Union St.

The two buildings total 11 units and sold for a combined $6.25 million, according to the report.

ConnectCRE also said the properties had remained under the same family ownership for more than 50 years, and that it was the first time either property was brought to market in over five decades.

The outlet reported that the properties were marketed individually and together, with multiple offers generated, and that selling them as a combined offering helped the ownership capitalize on the scale of the package.

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