Northmarq’s San Diego office arranges $1.8 million sale of multifamily property

4065-4069 N. 49th St.
Investment Sales - Multifamily
Multi-Tenant
Multifamily
Sale
Other
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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 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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