Marcus & Millichap Sells Four-unit North Park Apartment Complex In San Diego For $1.87M

A four-unit apartment property located at 4167-71 Kansas Street in San Diego's North Park neighborhood was recently sold for $1,870,000. The sale was facilitated by Marcus & Millichap, with brokers Ben Sierpina and Raymond Choi representing the deal. This multifamily asset attracted a private investor who was drawn to its desirable location and proximity to their existing apartment complexes. The buyer plans to renovate the property and implement rent increases over time.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $1,870,000
• Units: 4
• Price Per Unit (PPU): $467,500
• Market: San Diego
• Brokers: Ben Sierpina & Raymond Choi - Marcus & Millichap

This successful transaction showcases the expertise and negotiation skills of brokers Ben Sierpina and Raymond Choi from Marcus & Millichap. The buyer's motivation in acquiring this property was driven by its strategic location near their existing apartment complexes. By investing in renovations and implementing rent increases over time, the buyer aims to enhance the property's value and maximize returns.