Marcus & Millichap Arranges $8M Sale of San Diego Apartments

Marcus & Millichap’s Ben Sierpina and Raymond Choi have represented the seller and procured the buyer in the $8 million sale of Redwood Terrace, an 18-unit apartment complex in San Diego. The seller, a personal trust, and the buyer, a group of investors led by David Hamilton, both participated in a 1031 exchange.

Located at 3112 30th St., Redwood Terrace sits on the boundary between the popular neighborhoods of North Park and South Park. The property consists of 10 two-bedroom units and eight one-bedroom residences. Originally constructed in 1964, and the first time it’s been offered in 15 years, the property has been extensively renovated. Amenities include a large courtyard with a barbecue grill area, gated access, on-site laundry and 20 off-street parking spaces.