Press Releases
Marcus & Millichap Arranges the Sale of a Nine-Unit Apartment Building in San Diego, California
August 19, 2024
SAN DIEGO, August 19, 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 $2,980,000.
“The buyer plans to improve the property both inside and out to help improve the neighborhood while providing nine modernized dwelling units in a high demand rental market,” shared Tom McCartin, senior vice president investments in Marcus & Millichap’s San Diego Del Mar office. “A true Ad-Value purchase for the buyer, this property was delivered vacant at the close of escrow.” McCartin and Jasper Hodgson, investment associate in the firm’s San Diego Del Mar office, exclusively represented the buyer, a private investor.
The property is located at 3776 Villa Terrace in the North Park subdivision of San Diego, California. Built in 1962, the property is comprised of seven (7) one-bedroom/one-bath units, one (1) studio and one (1) two-bedroom/one-bath unit.
“The buyer plans to improve the property both inside and out to help improve the neighborhood while providing nine modernized dwelling units in a high demand rental market,” shared Tom McCartin, senior vice president investments in Marcus & Millichap’s San Diego Del Mar office. “A true Ad-Value purchase for the buyer, this property was delivered vacant at the close of escrow.” McCartin and Jasper Hodgson, investment associate in the firm’s San Diego Del Mar office, exclusively represented the buyer, a private investor.
The property is located at 3776 Villa Terrace in the North Park subdivision of San Diego, California. Built in 1962, the property is comprised of seven (7) one-bedroom/one-bath units, one (1) studio and one (1) two-bedroom/one-bath unit.
# # #
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.
