Marcus & Millichap Inc.
07/13/2026 | Press release | Archived content
Marcus & Millichap Closes Mixed-Use Asset Sale in Los Angeles County
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Marcus & Millichap Closes Mixed-Use Asset Sale in Los Angeles County
July 13, 2026
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PASADENA, Calif., July 13, 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 of 119 S Los Robles Ave., a five-story, mixed-use asset with 50 condominiums and 3,700 square feet of retail. The property sold for $22 million. Tony Azzi and Rabbie Banafsheha of the Azzi Group of Marcus & Millichap exclusively represented the seller, MLT VII LLC. Azzi, Banafsheha, Arteen Zahiri, and Ian Habbestad of Marcus & Millichap procured the buyer, a funding investment corporation.
Azzi stated: "All the condominium units are individually parceled, giving the buyer maximum flexibility for multiple exit strategies." Banafsheha added: "Select units offer private balconies or patios, complemented by a furnished courtyard, amenities that deliver quality of life for tenants and enhanced marketability for the asset."
The property is within walking distance of the Los Angeles Metro Rail's Memorial Park Station and a short drive from Downtown Los Angeles via U.S. Route 66 and Highway 110. Pasadena's cultural core, the Playhouse District, is nearby, and retail and entertainment are within proximity in Old Pasadena and in the South Lake Avenue District. The population within five miles is 503,250, the average annual household income is $136,000, and the median price of a single-family home is $1.2 million.
Built in 2015, 119 S Los Robles Ave. is a controlled-access building with gated parking and an enclosed mail room. All units have central air conditioning and heating, washer and dryer connections, and stained concrete flooring.
Azzi stated: "All the condominium units are individually parceled, giving the buyer maximum flexibility for multiple exit strategies." Banafsheha added: "Select units offer private balconies or patios, complemented by a furnished courtyard, amenities that deliver quality of life for tenants and enhanced marketability for the asset."
The property is within walking distance of the Los Angeles Metro Rail's Memorial Park Station and a short drive from Downtown Los Angeles via U.S. Route 66 and Highway 110. Pasadena's cultural core, the Playhouse District, is nearby, and retail and entertainment are within proximity in Old Pasadena and in the South Lake Avenue District. The population within five miles is 503,250, the average annual household income is $136,000, and the median price of a single-family home is $1.2 million.
Built in 2015, 119 S Los Robles Ave. is a controlled-access building with gated parking and an enclosed mail room. All units have central air conditioning and heating, washer and dryer connections, and stained concrete flooring.
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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 July 13, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 16, 2026 at 16:03 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]