Northmarq arranges record-setting sale of E Avenue Apartments in National City, California

E Ave Apts
Investment Sales - Multifamily
Multi-Tenant
Multifamily
Sale
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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.

 

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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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