Northmarq arranges record-setting sale of E Avenue Apartments in National City, California
SAN DIEGO (August 7, 2023) — The San Diego Investment Sales team consisting of Senior Vice President Erik Anderson and Senior Vice President Benn Vogelsang arranged the $3.836 million sale of the 16-unit E Avenue Apartments in National City, Calif. The property sold at $699 per square foot, setting the record for highest price per square foot in National City. Anderson and Vogelsang represented the seller in the transaction. Casa Familiar, LLC acquired the asset from an undisclosed private seller.
“We were able to drive significant value by highlighting the unique construction type and cottage-style layout of the property”, said Anderson, “Ultimately, our marketing process delivered a rock-solid local buyer that paid the highest price per square foot in National City history.”
The property is located at 1019-1049 E Avenue in National City and consists of all one-bedroom/one-bath, 343 sq. ft., single-story units.
Meet our team
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.
