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Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 22-unit multifamily property on Barron Street in Takoma Park, Maryland.
“This transaction marks the second multifamily property our team has sold in Takoma Park within the last month, which speaks to our boots-on-the-ground presence and real-time understanding of the submarket. The property had been owned by the same family for decades and was eventually placed into a family trust, with ownership later transitioning to out-of-town owners,” said Ryan Murray, associate director investments. “We’re proud to help the family achieve a smooth and successful transition and to place the property with Alan Associates, a highly respected owner and operator in Montgomery County. Their commitment to making thoughtful improvements while continuing to provide high-quality, affordable housing makes them an ideal long-term owner of the asset.”
Murray, along with John Slowinski and Marty Zupancic of the Zupancic Group of Marcus & Millichap, represented the seller, a private family trust.
Built in 1955, the 15,428-square-foot multifamily building at 8306–8308 Barron Street is situated on a 1.24-acre lot. The property is 95% occupied and features a unit mix of 20 one-bedroom and two two-bedroom units.
“While the broader market remains selective, we’re seeing strong demand for well-located multifamily assets in close-in submarkets like Takoma Park, particularly from experienced local operators,” Murray added. “Pricing has adjusted, but that reset has created a healthier environment where deals are getting done and long-term owners are stepping in with confidence.”
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end.
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Marcus & Millichap is the nation’s largest brokerage firm focused exclusively on investment sales. It is based on a simple premise: matching each property with the largest pool of pre-qualified investors. With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research, and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more about the company, please visit www.MarcusMillichap.com.