The 12-unit apartment property located at 4058 Hamilton Street in the North Park neighborhood of San Diego has been sold for $5,000,000. The complex, constructed in 1952, features 12 one-bedroom cottage style units and 10 single car garages. Situated just off Interstates 8 and 805, the property is only 4 miles away from Downtown San Diego.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $5,000,000.00
• MARKET: San Diego
• ASSET TYPE: MultiFamily
• SELLER'S REP: Raymond Choi (Marcus & Millichap)
• BUYER: Warrior Foundation Freedom Station
• SELLER: Private Corporation

Representing the seller, a private corporation, were Marcus & Millichap’s Ben Sierpina and Raymond S. Choi in this transaction. The marketing process attracted seven offers, resulting in the property selling above the list price despite being in its original condition with below market rents. Setting a record price per unit in North Park for a 5+ unit building in original condition, this sale was notable for the area. On the buyer's side, Dylan Wright and Connor Arleo of ACRE Investment Real Estate Services facilitated the acquisition for the Warrior Foundation Freedom Station.