Northmarq’s San Diego office arranges $5.15M sale of 20-unit apartments in Spring Valley, CA

9062 Kenwood Dr
Investment Sales - Multifamily
Multifamily
Sale
20-unit apartment building

SAN DIEGO (Jan. 2, 2025) — Benn Vogelsang of Northmarq’s San Diego office brokered the sale of The Kenwood multifamily community for $5.15 million. The 20-unit property was built in 1978 and offers a strong unit mix of one- and two-bedroom apartment homes in San Diego County.

Northmarq represented both the seller, V W C Fenway Dr 10, LLC, and buyer, a private family trust.

"The seller stabilized an asset with 50% economic vacancy in escrow to allow an exchange buyer to purchase the property with 60% leverage," said Vogelsang.

Located at 9062 Kenwood Drive in Spring Valley, California, The Kenwood apartments boast 27 parking spaces, gated access and laundry facilities. Featured in-unit amenities include air conditioning, dishwashers, plank flooring and stainless-steel appliances.

Residents enjoy the small-town feel of Spring Valley and a 20-minute commute to downtown San Diego. The multifamily property is ideally located near Highway 94, offering easy transportation to and from the rolling hills and countryside.

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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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