Multifamily
Investment Sales - Multifamily

Northmarq's San Diego office arranges sale of the Carlsbad Bungalows in Carlsbad, California

SAN DIEGO, CALIFORNIA (November 1, 2021) – Erik Anderson of the Northmarq San Diego Investment Sales team arranged the $3.7 million sale of Carlsbad Bungalows, a 7-unit multifamily property located at 3044 State Street in Downtown Carlsbad, California. Anderson worked on behalf of the buyer, a repeat client and local investor. 

“The property is absolutely one of a kind,” said Anderson. “All of the units are detached cottage-style bungalows, and the location within the Downtown Village is impeccable. It is the reason why this was the highest price per unit in the Carlsbad Submarket in the past three years, because this is equivilant to buying seven single family homes blocks from the beach.” 

The property was purchased from Villagio Carlsbad Cottages, LLC, and the buyer is Carlsbad Bungalows, LLC.  

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.

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Carlsbad Bungalows
Sale
$3,700,000