Marcus & Millichap has successfully closed the sale of Chenore Ridge, a newly constructed 12-unit apartment property located in the vibrant Golden Hill neighborhood of San Diego. The property sold for $6.3 million.
Raymond S. Choi, an investment specialist in Marcus & Millichap’s San Diego Del Mar office, represented both the seller, Chenore Ridge II LLC, and the buyer, Rust Multifamily 3093 Broadway LLC.
“This is one of the few new construction closings in San Diego County in recent months,” noted Choi. “The seller chose to carry the first trust deed to secure a steady stream of interest income, while the buyer was seeking a turnkey, pride-of-ownership asset for long-term investment.”
The property, located at 3093 Broadway, was completed in 2024 and is situated in Golden Hill, a historically rich and culturally dynamic neighborhood that caters to young professionals and local families.
“Golden Hill has become a vibrant residential community loaded with history and culture,” Choi added. “It continues to be a desirable area as more residents are drawn to its character and convenience.”
