Northmarq announces $1.285 million sale of garden-style apartments in San Diego
SAN DIEGO (Jan. 10, 2024) — Northmarq’s San Diego Multifamily Investment Sales team of Benn Vogelsang, senior vice president, and Erik Anderson, senior vice president, has completed the sale of a 4-unit garden style multifamily property for $1.285 million. The property was built in 1948 and is located at 3791 Marlborough Ave. in San Diego. Northmarq represented the seller, Grimes Trust. The buyer was a San Diego-based private investor.
“The transaction shows how there is still high demand for value-add multifamily investments, especially those with ADU potential,” said Vogelsang.
Situated on a corner lot in the neighborhood of Teralta West in City Heights, the multifamily property is just steps away from shopping and transit on University Avenue and minutes from the new retail center in Fairmount Village. 3791 Marlborough Avenue offers easy access to the 15 freeway in addition to the buzzing and colorful community of Teralta West.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
