The Levin Johnston team at Marcus & Millichap has notched two more multifamily wins on the San Francisco Peninsula this month, closing a 16-unit building in San Mateo and a 15-unit property in downtown Palo Alto for a combined roughly $17.9 million. For a region where small apartment buildings often trade like collectibles, the pair of sales adds to the steady trickle of investors chasing income in a market that is still short on supply.
Levin Johnston, the Marcus & Millichap group led by Palo Alto-based executive managing directors Adam Levin and Robert Johnston, represented the sellers in both transactions and, in one deal, also brought in the buyer, according to Levin Johnston. The team’s online press and past-transaction pages highlight a regular stream of Bay Area multifamily deals and position the duo among the region’s most active brokers.
Deal Details And Pricing
Public records and listings show that the San Mateo property at 225 Catalpa St. traded for $7.75 million. Records on Redfin indicate the 16-unit building closed in April 2026, which works out to about $484,000 per apartment, a relatively modest per-unit figure compared with many core Silicon Valley sales.
As reported by Connect CRE, the Hawthorne Apartments at 325-327 Hawthorne Ave. in downtown Palo Alto sold for roughly $10.15 million. Listing data from PropertyShark shows the 15-unit property had been marketed at about $10.5 million before it changed hands…