Northmarq’s San Diego office arranges $5.15M sale of 20-unit apartments in Spring Valley, CA
SAN DIEGO (Jan. 2, 2025) — Benn Vogelsang of Northmarq’s San Diego office brokered the sale of The Kenwood multifamily community for $5.15 million. The 20-unit property was built in 1978 and offers a strong unit mix of one- and two-bedroom apartment homes in San Diego County.
Northmarq represented both the seller, V W C Fenway Dr 10, LLC, and buyer, a private family trust.
"The seller stabilized an asset with 50% economic vacancy in escrow to allow an exchange buyer to purchase the property with 60% leverage," said Vogelsang.
Located at 9062 Kenwood Drive in Spring Valley, California, The Kenwood apartments boast 27 parking spaces, gated access and laundry facilities. Featured in-unit amenities include air conditioning, dishwashers, plank flooring and stainless-steel appliances.
Residents enjoy the small-town feel of Spring Valley and a 20-minute commute to downtown San Diego. The multifamily property is ideally located near Highway 94, offering easy transportation to and from the rolling hills and countryside.
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 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.
