Marcus & Millichap : Orchestrates the Sale of a Seven-Unit Apartment Building in San Diego
October 04, 2022 at 03:22 am EDT
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SAN DIEGO, October 3, 2022- 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 3801 Centre Street, a seven-unit apartment property located in San Diego, California. The asset sold for $2,700,000.
New ownership of this property will have the opportunity to transform this desirable seven-unit apartment building to accommodate the lifestyles of all residents. The buyer, South Coast Equity Partners LLC, was procured by Austin Ray Huffman, vice president investments in Marcus & Millichap's San Diego Del Mar office. The seller, Krewsun Family Trust, was represented by Glenn Bennett from Cowles Mountain Realty.
The asset is located in the heart of Hillcrest at 3801 Centre Street in San Diego, California. 3801 Centre Street is comprised of six (6) one-bedroom/one-bath and one (1) two-bedroom/one-bath unit. The seven-unit apartment building has upgraded systems and newer windows, but the property had low in-place rents overall. A few of the many positive aspects of this property has to offer is great walkability and access to countless bars, coffeeshops and restaurants.
Marcus & Millichap Inc. published this content on 03 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2022 07:21:07 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.