Multifamily - Sale

NorthMarq arranges sale of Las Palmas Apartments in San Diego, California

SAN DIEGO, CALIFORNIA (March 10, 2021) – The San Diego Investment Sales team consisting of Erik Anderson and Kyle Pinkalla, arranged the $4.1 million sale of Las Palmas Apartments. The 18-unit multifamily property is located at 3864 35th Street in San Diego, California within the North Park/Cherokee Point submarket. Anderson and Pinkalla represented the seller and sourced the buyer in the transaction as well. 

“With the low amount of available inventory in the market currently, the buyer was attracted to purchasing the asset off market at a favorable basis per unit,” said Anderson. “The buyers intend to do a full interior and exterior remodel to the asset and are excited about the additional gentrification of the area.”

The property was purchased from Voltaire Street, LLC, and the buyer is undisclosed.  

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.