PRESS RELEASE: Silicon Valley Apartment Complex Sells for $11.4 Million

SANTA CLARA, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of The Village at Lawrence Station, a four-building, 56-unit apartment complex in the Silicon Valley city of Santa Clara, Calif. The $11,400,000 sales price equates to $203,000 per unit.

Adam Levin, vice president investments in Marcus & Millichap’s Palo Alto office, represented the seller, Interstate Equities Corp., and the buyer, a local private investor.

"Formerly known as Agate Garden Apartments, the property was transformed into a cohesive community with new signage and a uniform appearance by the previous owner,” says Levin.

The apartment complex is located at 3488 Agate Drive, 3508 Agate Drive and 3518 Agate Drive in Santa Clara, Calif. near Lawrence Station, a Caltrain station in Sunnyvale, Calif.

The Village at Lawrence Station is a courtyard-style apartment complex featuring studio apartments, one-bedroom/one-bath units, two-bedroom/one-bath apartments and three-bedroom/two-bath units.

TAGS: Investment