Marcus & Millichap recently facilitated the sale of a nine-unit apartment complex in San Diego for $2,550,000. The property had been privately owned for over 40 years before being put on the market.
According to Austin Huffman, first VP investments at Marcus & Millichap’s San Diego Del Mar office, the seller took great care of the property during their ownership. Huffman and Christopher J. Zorbas, executive managing director investments at the same office location, represented the seller – an individual or personal trust – in marketing and selling this asset.
The buyer was Highridge Partners Inc., who were brought to attention by both Huffman and Zorbas. The two-story building is situated at 4033 36th St., boasting a wood frame construction with concrete slab foundation. It consists of six one-bedroom/one-bath units, three two-bedroom/one-bath units as well as four single-car garages.
