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Marcus & Millichap Brokers the Sale of an 8-Unit Apartment Building in El Cajon

November 18, 2022

EL CAJON, Cali., November 18, 2022 – 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 417 Claydelle Avenue, an 8-unit apartment property located in El Cajon, California. The asset sold for $1,660,000.

Cole Silverman and Carson Trujillo, multifamily investment specialists in Marcus & Millichap’s Downtown San Diego office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The 1031 exchange cash buyer, a private investor, was procured by Silverman and Trujillo.

417 Claydelle Ave is comprised of six (6) one-bedroom/one-bath units and two (2) two-bedroom/one-bath units. Constructed in 1963, this property rests on an approximate 8,673 square-foot lot and has 4,512 of rentable square feet. Tenants enjoy access to off-street parking, a large grass area, and wall unit air conditioning. This value-add opportunity offers significant rental upside through interior and exterior renovations. Close to attractions, restaurants and schools on West Main Street, this asset is situated for long term appreciation and is centrally located with the investor’s longevity in mind.

 

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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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