Marcus & Millichap recently finalized the sale of a five-unit apartment property in San Diego for $2,482,000. According to Cole Silverman, an investment associate at Marcus & Millichap’s San Diego Del Mar office, the seller was looking to exchange their capital out of state and into a passive investment after managing the units for over 50 years. The property received multiple offers within its 52-day time on the market.
Silverman and first VP investments Carson Trujillo from Marcus & Millichap’s San Diego Del Mar office were responsible for marketing and representing the seller – a private investor. The buyer was also procured by Silverman and Trujillo.
“This successful transaction marks our team’s fourth deal in Pacific Beach within just 18 months,” stated Silverman confidently as he highlighted their active role as apartment brokers in this area.
This news highlights another successful closing by an experienced duo with proven results in Pacific Beach real estate transactions.
