Northmarq announces sale of San Diego garden-style apartments for $4.33 million
SAN DIEGO (June 5, 2024) — Northmarq’s San Diego Multifamily Investment Sales team of Benn Vogelsang, senior vice president, and Erik Anderson, senior vice president, successfully brokered the $4.33 million sale of a 20-unit multifamily property in San Diego, Calif. Built in 1957, the apartment community is situated at 4051-61 Euclid Avenue in the Colina Del Sol neighborhood.
“This transaction shows the market for workforce housing with value-add potential,” said Vogelsang. Northmarq represented the seller, TRI-Arch Properties LLC. The buyer was Euclid Realty LLC.
The two-building property features two-bedroom, one-bathroom apartment homes, five double garages and on-site laundry facilities. 4051-61 Euclid Ave. offers access to Colina Del Sol’s diverse dining and shopping and a short 7-mile drive to Downtown San Diego. Additionally, the multifamily community is within 10 miles of Balboa Park, Mission Beach, Sea World and the San Diego International Airport.
Meet our team
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.
