Marcus & Millichap Closes $25M Sale of Monterey Bay Asset
Marcus & Millichap has brokered the $25.3 million sale of Del Sol Apartments, a 121-unit community in Seaside, Calif. Senior Managing Director Eduardo Cerna represented the seller, a San Jose-based company, and procured the buyer, a private investor.
Situated on more than 3 acres at 1881 Baker St., Del Sol consists of 12 buildings developed between 1964 and 1974. The unit mix features one- to three-bedroom options, ranging between 475 and 1,400 square feet, accord to the property website. Amenities include laundry facilities and on-site parking. The property underwent capital improvements, including new decks and balconies, double-pane windows, retrofitted garages and a new heating system.