Two long-held multifamily properties in San Francisco’s Russian Hill neighborhood have changed hands after more than half a century under the same family ownership. Marcus & Millichap arranged the sale of the adjacent assets at 1159-1169 and 1067-1071 Union St., bringing a rare portfolio to market in one of the city’s established residential enclaves.
The combined portfolio consists of 11 apartment units and traded for a total consideration of $6.25 million. According to Marcus & Millichap, this was the first time either property had been offered for sale in over 50 years, underscoring the limited turnover of long-owned multifamily stock in Russian Hill. The opportunity to acquire both buildings at once drew attention from multiple prospective buyers.
Philip Batlin, managing director investments at Marcus & Millichap, described the offering as a rare chance to secure two well-located Russian Hill assets from a long-term owner. He noted that the brokerage team positioned the properties both as individual listings and as a combined portfolio, a strategy that attracted several offers on each asset. The marketing process ultimately yielded a buyer willing to purchase the two buildings together.
Batlin said that selling the properties as a combined portfolio enabled the ownership to leverage the scale of the offering and select what he characterized as the strongest overall proposal. The approach allowed the seller to evaluate interest across both properties and determine which structure provided the best overall outcome, rather than transacting each building in a standalone sale.
Marcus & Millichap investment specialists Batlin, Clinton Textor, Sam Runco and Jordan Tong, all based in the firm’s San Francisco office, were responsible for marketing the Union Street properties on behalf of the seller. In addition to representing the seller, the team also procured the buyer, identified as Ballast. The transaction highlights continued investor focus on smaller-scale multifamily assets in established San Francisco neighborhoods where new supply is limited and ownership is often tightly held over multiple decades.
The closing of this Russian Hill portfolio sale marks the transfer of a long-term family-owned asset in one of San Francisco’s core residential submarkets, providing a benchmark for pricing of similar small-unit multifamily properties that may come to market in the area.
