Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Zen Garden, an 8-unit apartment property located in Oakland Park, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,558,000.

Alec G. Bashein, associate, Brandon J. Rex, senior vice president investments and Evan P. Kristol, executive managing director investments in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

“Zen Garden demonstrates the overwhelming demand for quality assets in a superb South Florida location,” says Bashein.

Zen Garden is located at 1273 NE 38th Street in Oakland Park, Florida, strategically situated steps from the burgeoning Central Business District of the City.

“Zen Garden truly exemplifies the allure of the South Florida real estate market to buyers located out of the Northeast,” adds Bashein. “The seller spared no expense transforming a 1969 constructed property into a one-of-a-kind rental building with a modern architectural design and interior finishes typically found in a new class-A apartment community.”

About Marcus & Millichap (NYSE: MMI)

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 9,726 transactions in 2019 with a value of approximately $50 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, please visit: www.MarcusMillichap.com.