Levin Johnston of Marcus & Millichap, one of the top brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, announces that it has directed the acquisitions of two multifamily assets totaling 70 units located in the San Francisco Bay Area for a total of $24.35 million.
With these acquisitions, the single buyer, a private investor, invested proceeds from the recent sale of a three-property portfolio as part of a 1031 Exchange.
The transactions were completed by Levin Johnston’s Robert Johnston, Executive Managing Director; Adam Levin, Executive Managing Director; and Jessica Tomasetti, Associate Director Investments.
“The buyer is a long-time multifamily owner in the region who was looking to trade into larger, stable assets that have been fully remodeled after selling three smaller, vintage properties in their original condition,” explains Johnston. “Leveraging our extensive network built through Marcus & Millichap and our long-cultivated local relationships, along with deep market and wealth-building expertise, we were able to source rare opportunities that met our client’s location, quality, scale, and tax objectives.”
These acquisitions more than double the unit count of the buyer’s previous portfolio, going from 33 units to 70 units, reflecting sustained investor confidence in the Bay Area market, adds Levin.
“These investments demonstrate both the opportunities for stability and solid growth potential through Bay Area multifamily real estate, at a time when housing supply-to-job growth imbalances and high barriers to home ownership are driving demand,” says Levin. “Residents continue to be drawn to region’s unmatched employment, networking, and access to high-quality living.”
The properties include Park Tower Townhomes & Apartments, a 52-unit multifamily community in Castro Valley, California and 280 Howland Street, an 18-unit multifamily community in Redwood City, California.
Tomasetti adds: “Both assets are located central to several Bay Area employment hubs and offer elevated community and neighborhood amenities. This is a dynamic moment when San Francisco in particular is seeing a dramatic increase in office visits, and the area is being revitalized in part due to industry-leading AI opportunities and return-to-office mandates, driving demand from residents who are attracted to quality product in prime locations.”
280 Howland Street is in proximity to many of the nation’s top employers including Box Inc., Google, Oracle, Electronic Arts Inc. (EA), Stanford, Facebook, Cisco Systems, Visa, Sony, and many others. The property offers residents a range of beautifully designed two-bedroom, one-bedroom, and studio floor plans and convenient community amenities such as private covered parking and on-site laundry facility.
Park Tower Townhomes & Apartments is located at 20353 Park Way, Castro Valley and 280 Howland Street is located at 280 Howland Street, Redwood City.
With these acquisitions, the Levin Johnston team of Marcus & Millichap has completed 62 transactions with a total dollar volume of more than $380 million in 2025 to date.
