Press Releases
Marcus & Millichap Arranges the Sale of Quinta Irma, an Eight-Unit Apartment Building in San Diego, California
August 08, 2024
SAN DIEGO, August 8, 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 Quinta Irma, an eight-unit apartment complex located in San Diego, California. The asset sold for $2,700,000.
“"The sale of Qunita Irma highlights strong investor demand for rental housing, even when the property requires significant maintenance and is half vacant,” 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/personal trust. The buyers, private local investors, were also procured by Stolle and Trujillo.
Quinta Irma is located at 4549 North Avenue in San Diego’s University Heights Neighborhood. The property is comprised of a desirable unit mix, including six (6) two-bedroom/one-bath units and two (2) one-bedroom/one-bath units. The property is equipped with five single car garages, an oversized shared laundry room, and was delivered 50% vacant. Constructed in 1958, this property rests on a 7,000-square-foot lot and offers 5,831 rentable square-feet.
“"The sale of Qunita Irma highlights strong investor demand for rental housing, even when the property requires significant maintenance and is half vacant,” 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/personal trust. The buyers, private local investors, were also procured by Stolle and Trujillo.
Quinta Irma is located at 4549 North Avenue in San Diego’s University Heights Neighborhood. The property is comprised of a desirable unit mix, including six (6) two-bedroom/one-bath units and two (2) one-bedroom/one-bath units. The property is equipped with five single car garages, an oversized shared laundry room, and was delivered 50% vacant. Constructed in 1958, this property rests on a 7,000-square-foot lot and offers 5,831 rentable square-feet.
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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.
