Northmarq recently closed the sale of a garden-style multifamily property in North San Diego for $3.15 million. The nine-unit property, located at 3104 Meade Ave., was built in 1987 and offers a prime walkable location within the popular North Park submarket.
Erik Anderson and Benn Vogelsang, both Senior Vice Presidents with Northmarq’s San Diego multifamily investment team, represented the buyer RP Vintage Meade Holdings LLC while Bob Rodrigues of Real Properties Group Real Estate Inc. represented the seller, The Ferreira Trust.
According to Anderson, this transaction provided an excellent opportunity for buyers to acquire a newer vintage building with a desirable unit mix at an attractive price compared to similar sales and replacement costs. He also noted that this purchase marks RP Vintage Meade Holdings’ first acquisition as part of their new venture.
The vibrant neighborhood of North Park is known for its bustling nightlife scene and iconic attractions such as the San Diego Zoo. With its strong potential for long-term returns on investment, this garden-style multi has proven to be an ideal addition to any portfolio.
