Northmarq announces $1.285 million sale of garden-style apartments in San Diego

3791 Marlborough Ave
Investment Sales - Multifamily
Multifamily
Sale
4-unit garden-style multifamily property

SAN DIEGO (Jan. 10, 2024) — Northmarq’s San Diego Multifamily Investment Sales team of Benn Vogelsang, senior vice president, and Erik Anderson, senior vice president, has completed the sale of a 4-unit garden style multifamily property for $1.285 million. The property was built in 1948 and is located at 3791 Marlborough Ave. in San Diego. Northmarq represented the seller, Grimes Trust. The buyer was a San Diego-based private investor.

“The transaction shows how there is still high demand for value-add multifamily investments, especially those with ADU potential,” said Vogelsang.

Situated on a corner lot in the neighborhood of Teralta West in City Heights, the multifamily property is just steps away from shopping and transit on University Avenue and minutes from the new retail center in Fairmount Village. 3791 Marlborough Avenue offers easy access to the 15 freeway in addition to the buzzing and colorful community of Teralta West.

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About Northmarq 
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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