Marcus & Millichap Inc.

10/03/2022 | Press release | Distributed by Public on 10/04/2022 01:19

Marcus & Millichap Orchestrates the Sale of a Seven-Unit Apartment Building in San Diego

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.