Press Releases
Marcus & Millichap Arranges $12.5M Sale of 81-Unit Multifamily Property in La Mesa, California
July 24, 2026
LA MESA, CALIF., July 24, 2026 – 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 5035-49 Guava Ave., an 81-unit senior affordable multifamily property located in La Mesa, California. The property sold for $12.5 million or $154,320 per unit.
“Age-restricted communities with long-term affordability protections are rarely available for acquisition in San Diego County,” said Christopher Zorbas, executive managing director investments. “This transaction reflects the continued demand for well-maintained affordable senior housing, and despite broader industry headwinds, we remain confident in the long-term fundamentals of the La Mesa and greater San Diego rental market.” said Graeme Henderson, director of investments. “New ownership is poised to keep providing low-income senior housing for years to come, given the property is the only senior deed restricted building with an agreement in perpetuity in the submarket.” The sale marks one of five transactions over 80 units in La Mesa and one of seven senior affordable transactions countywide in the past five years. The marketing team conducted over 20 tours of the asset and had multiple competing offers.
Zorbas, Henderson, and Austin Huffman, investment specialists in Marcus & Millichap’s San Diego Del Mar office, had the exclusive listing to market the property on behalf of the seller, a private owner, and procured the buyer, Positive Investments based out of Los Angeles.
Built in 1986, the 36,500-square-foot property is situated on a 1.32-acre parcel at and is positioned along the Interstate 8 Corridor in East County San Diego. The asset features 40 studio apartments measuring 401 square feet and 41 one-bedroom units measuring 500 square feet, along with a pool and spa, recreation room, outdoor gathering areas, on-site laundry facilities, controlled pedestrian access and dedicated parking. The property is located near several major healthcare employers, including Kaiser Permanente Medical and Urgent Care, Alvarado Hospital and Sharp Grossmont Hospital, East County's largest medical facility.
“Age-restricted communities with long-term affordability protections are rarely available for acquisition in San Diego County,” said Christopher Zorbas, executive managing director investments. “This transaction reflects the continued demand for well-maintained affordable senior housing, and despite broader industry headwinds, we remain confident in the long-term fundamentals of the La Mesa and greater San Diego rental market.” said Graeme Henderson, director of investments. “New ownership is poised to keep providing low-income senior housing for years to come, given the property is the only senior deed restricted building with an agreement in perpetuity in the submarket.” The sale marks one of five transactions over 80 units in La Mesa and one of seven senior affordable transactions countywide in the past five years. The marketing team conducted over 20 tours of the asset and had multiple competing offers.
Zorbas, Henderson, and Austin Huffman, investment specialists in Marcus & Millichap’s San Diego Del Mar office, had the exclusive listing to market the property on behalf of the seller, a private owner, and procured the buyer, Positive Investments based out of Los Angeles.
Built in 1986, the 36,500-square-foot property is situated on a 1.32-acre parcel at and is positioned along the Interstate 8 Corridor in East County San Diego. The asset features 40 studio apartments measuring 401 square feet and 41 one-bedroom units measuring 500 square feet, along with a pool and spa, recreation room, outdoor gathering areas, on-site laundry facilities, controlled pedestrian access and dedicated parking. The property is located near several major healthcare employers, including Kaiser Permanente Medical and Urgent Care, Alvarado Hospital and Sharp Grossmont Hospital, East County's largest medical facility.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
