Northmarq’s San Diego office announces $5.775 million sale of Wisconsin Terrace apartments

Wisconsin Terrace Apts
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SAN DIEGO (May 16, 2023) — Northmarq’s Benn Vogelsang, senior vice president, arranged the $5,775,000 sale of a 22-unit apartment building (built in 1986) located at 299 Wisconsin Avenue in El Cajon, California. Both the buyer and seller were represented by Vogelsang. Wisconsin EP, LLC of Santa Ana purchased the property from Wisconsin Apartments, LLC of El Cajon. The property was in escrow for approximately 70 days. 

“The assumable debt on this purchase and upside in rents made this property attractive to the buyer,” said Vogelsang. 

The three-building apartment community consists of 875 to 1,076 sq. ft. two- and three-bedroom units. Located in downtown El Cajon, the average market rent is $2,495. The city of El Cajon is situated just 17 miles east of Downtown San Diego and provides easy access to public bus routes, Interstate 8, and Highways 125 and 52. Residents enjoy a centralized location close to Main Street shopping, restaurants, and highways. Community amenities include: On-site laundry facility, storage space, assigned and off-street parking, and on-site management and maintenance. 

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 www.Northmarq.com.

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