Marcus & Millichap Inc.
08/17/2026 | Press release | Distributed by Public on 08/17/2026 15:16
Marcus & Millichap Arranges $5.75M Sale and $3.8M Financing of 16-Unit Multifamily Property in Belmont, California
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Marcus & Millichap Arranges $5.75M Sale and $3.8M Financing of 16-Unit Multifamily Property in Belmont, California
August 17, 2026
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BELMONT, Calif., Aug. 17, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and financing of Carlmont Hills Apartments, a 16-unit multifamily property in Belmont, California. The property sold for $5.75 million or $359,375 per unit. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged $3.8 million in acquisition financing.
"Carlmont Hills Apartments offered the buyer an opportunity to acquire a well-maintained asset with meaningful upside through continued interior and exterior renovations," said Adam Levin, executive managing director investments. "Belmont's limited housing supply, low vacancy and proximity to Silicon Valley's major employment centers continue to support rental growth, positioning the property for long-term appreciation."
Levin and Robert Johnston, of the Levin Johnston team based out of Marcus & Millichap's Palo Alto office, had the exclusive listing to market the property on behalf of the seller, a local family office, and procured the buyer, a local syndication group.
Chad O'Connor, executive managing director, capital markets, based in the firm's San Diego office, secured the financing with a national bank on behalf of the buyer. The loan features a 10-year term at 70% loan-to-value with a 5.85% interest rate and 30-year amortization period.
Built in 1962, Carlmont Hills Apartments is situated on a 0.49-acre parcel located at 2401 Carlmont Dr. in Belmont. The 17,478-rentable-square-foot property consists of 16 two-bedroom, one-bathroom apartment units. Select units have been renovated with new cabinets, granite countertops, wood laminate flooring and stainless steel appliances. Each unit also features a private patio or balcony. Community amenities include private covered parking, on-site laundry facilities and a swimming pool. The property is near Ralston Avenue with convenient access to Interstate 280, U.S. Route 101, State Route 92 and the Belmont Caltrain Station, placing residents within commuting distance of major Silicon Valley employers, including Oracle, Electronic Arts, Visa and Sony.
"Carlmont Hills Apartments offered the buyer an opportunity to acquire a well-maintained asset with meaningful upside through continued interior and exterior renovations," said Adam Levin, executive managing director investments. "Belmont's limited housing supply, low vacancy and proximity to Silicon Valley's major employment centers continue to support rental growth, positioning the property for long-term appreciation."
Levin and Robert Johnston, of the Levin Johnston team based out of Marcus & Millichap's Palo Alto office, had the exclusive listing to market the property on behalf of the seller, a local family office, and procured the buyer, a local syndication group.
Chad O'Connor, executive managing director, capital markets, based in the firm's San Diego office, secured the financing with a national bank on behalf of the buyer. The loan features a 10-year term at 70% loan-to-value with a 5.85% interest rate and 30-year amortization period.
Built in 1962, Carlmont Hills Apartments is situated on a 0.49-acre parcel located at 2401 Carlmont Dr. in Belmont. The 17,478-rentable-square-foot property consists of 16 two-bedroom, one-bathroom apartment units. Select units have been renovated with new cabinets, granite countertops, wood laminate flooring and stainless steel appliances. Each unit also features a private patio or balcony. Community amenities include private covered parking, on-site laundry facilities and a swimming pool. The property is near Ralston Avenue with convenient access to Interstate 280, U.S. Route 101, State Route 92 and the Belmont Caltrain Station, placing residents within commuting distance of major Silicon Valley employers, including Oracle, Electronic Arts, Visa and Sony.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on August 17, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on August 17, 2026 at 21:16 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]