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Marcus & Millichap Arranges the Sale of a Five-Unit Apartment Building in Encinitas, California

August 12, 2024

ENCINITAS, Calif., August 12, 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 residential income property located in Encinitas, California. The asset sold for $6,300,000.

“Nestled in the coveted Cardiff neighborhood, this remarkable ocean view property redefines the standard for coastal investments,” shared Aaron Bove, senior managing director investments in Marcus & Millichap’s San Diego Del Mar office. Bove had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, an individual/personal trust, was also procured by Bove. “This highly sought after property blends lifestyle and investment”, Bove stated.

The property is located at 1558 Summit Avenue in Encinitas, California. The main residence includes a stunning five-bedroom/four-bath home featuring panoramic ocean views. The home’s expansive, sunlit living areas create a seamless blend of indoor and outdoor spaces, perfect for entertainment and relaxation. In addition to the main residence, the property includes separate rental units, storage areas, laundry and garage parking.

 

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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.

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