Northmarq’s San Diego office arranges $1.8 million sale of multifamily property
SAN DIEGO (August 8, 2023) — Northmarq’s Benn Vogelsang, senior vice president, and Erik Anderson, senior vice president, arranged the $1.8 million sale of a six-unit apartment building located at 4065-4069 N. 49th St. Vogelsang and Anderson represented the seller, Bay Park Capital. The buyer was a private investor based in the Bay Area.
“This transaction shows how sellers may receive a premium price if their property has ADU potential,” said Vogelsang.
Built in 1986, the two-story multifamily property is located in Colina Del Sol, a neighborhood known for its diverse dining scene and close-knit communities. The property offers one- and two-bedroom units ranging from 550 to 750 sq. ft. Residents enjoy a variety of authentic restaurants and international grocers along El Cajon Boulevard and University Avenue as well as three shopping centers within an 11-minute walk. The property is just 10 miles away from Balboa Park, Mission Beach and the San Diego International Airport.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
