Northmarq arranges $4.1 million sale of Chalet Central apartments

Chalet Central

SAN DIEGO (Sept. 20, 2023) — Northmarq’s Benn Vogelsang, senior vice president, arranged the sale of a 17-unit apartment building, Chalet Central, located at 4141 Central Ave. in City Heights. Vogelsang represented the seller, Central HDG, LLC of Maryland. The 1031 exchange buyer, Warm River Ranch LLC of Descanso, was represented by Aziz Zakkout of Marcus and Millichap and acquired the asset for $4.1 million. 

“This is one of the first resales of a building over 5 units with ADUs,” said Vogelsang.

The property was in escrow for 30 days and closed on Sept. 8, 2023 in an all-cash purchase. Chalet Central consists of 600 sq. ft. one-bedroom apartment homes, 750 sq. ft. two-bedroom apartments and three ADU units.

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

NM Web Icon News Black

Stay on top of industry research