Press Releases
Marcus & Millichap Arranges the Sale of An Eight-Unit Apartment Building in San Diego, California
August 14, 2024
SAN DIEGO, August 14, 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 an eight-unit apartment property located in San Diego, California. The asset sold for $2,042,500.
“The sale of this property showcases the robust demand among investors for smaller value-add apartment complexes” shared Connor Stolle, senior associate in Marcus & Millichap’s San Diego Downtown office. Stolle and Carson Trujillo, first vice president investments in the firm’s San Diego Downtown office, had the exclusive listing to market the property on behalf of the seller, an individual. The buyer, a limited liability company, was also procured by Stolle and Trujillo.
The property is located at 4275-77 Meade Avenue in San Diego, California. Built in 1958, and nestled in the vibrant Kensington neighborhood, this eight-unit apartment complex offers a prime location on a 12,905-square-foot corner lot. The property features 6,102 rentable square-feet with a mix of seven (7) two-bedroom/one-bath units and one (1) one-bedroom/one-bath unit. Residents enjoy convenient off-street parking, on-site laundry, and a secured gated entry. With a walk score of 91, this well-maintained complex is ideally situated close to local amenities and transit options, making it a highly desirable place to live.
“The sale of this property showcases the robust demand among investors for smaller value-add apartment complexes” shared Connor Stolle, senior associate in Marcus & Millichap’s San Diego Downtown office. Stolle and Carson Trujillo, first vice president investments in the firm’s San Diego Downtown office, had the exclusive listing to market the property on behalf of the seller, an individual. The buyer, a limited liability company, was also procured by Stolle and Trujillo.
The property is located at 4275-77 Meade Avenue in San Diego, California. Built in 1958, and nestled in the vibrant Kensington neighborhood, this eight-unit apartment complex offers a prime location on a 12,905-square-foot corner lot. The property features 6,102 rentable square-feet with a mix of seven (7) two-bedroom/one-bath units and one (1) one-bedroom/one-bath unit. Residents enjoy convenient off-street parking, on-site laundry, and a secured gated entry. With a walk score of 91, this well-maintained complex is ideally situated close to local amenities and transit options, making it a highly desirable place to live.
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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.
