Press Releases
Marcus & Millichap Announces the Sale of a Nine-Unit Apartment Building in San Diego, California
July 31, 2024
SAN DIEGO, July 31, 2024 – 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 a nine-unit apartment property located in San Diego, California. The asset sold for $2,550,000.
“This is the first time that the property has been on the market in over 40 years” shared Austin Huffman, first vice president investments in Marcus & Millichap’s San Diego Del Mar office. “The seller did a great job maintaining the property during his ownership.” Huffman and Christopher J. Zorbas, executive managing director investments in the firm’s San Diego Del Mar office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, Highridge Partners Inc, was procured by Huffman and Zorbas.
The property is located at 4033 36th Street in San Diego, California. This nine-unit building, with its two-story wood frame and concrete slab foundation, includes six (6) one-bedroom/one-bath units, three (3) two-bedroom/one-bath units and four single car garages. Additionally, the property boasts abundant off-street parking, and on-site laundry. Recent upgrades include new electrical panels and vinyl flooring in several of the units. The new owner plans on converting the four garages to two ADUs.
“This is the first time that the property has been on the market in over 40 years” shared Austin Huffman, first vice president investments in Marcus & Millichap’s San Diego Del Mar office. “The seller did a great job maintaining the property during his ownership.” Huffman and Christopher J. Zorbas, executive managing director investments in the firm’s San Diego Del Mar office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, Highridge Partners Inc, was procured by Huffman and Zorbas.
The property is located at 4033 36th Street in San Diego, California. This nine-unit building, with its two-story wood frame and concrete slab foundation, includes six (6) one-bedroom/one-bath units, three (3) two-bedroom/one-bath units and four single car garages. Additionally, the property boasts abundant off-street parking, and on-site laundry. Recent upgrades include new electrical panels and vinyl flooring in several of the units. The new owner plans on converting the four garages to two ADUs.
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About Marcus & Millichap, Inc. (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, 2024, the company had 1,712 investment sales and financing professionals in over 80 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
