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New-Construction Carlsbad Multifamily Trades for $2.1M Per Unit
Marcus & Millichap closed the sale of 312 Hemlock Ave. a four-unit apartment property located in Carlsbad. The sale price was $8,500,000.
“Hemlock is indicative of market resilience despite debt obstacles,” said Conor Brennan, SVP in Marcus & Millichap’s San Diego Downtown office. “Cap rates have not moved 1:1 with interest rates, and buyers seeking premium real estate can still expect compressed cap rates.”
The buyer, a private investor, was procured and represented by Brennan and Adrian Grobelny, associate in the firm’s San Diego Downtown office.
Built in 2023, 312 Hemlock is “a brand-new construction three-bed townhome community only one block from the beach and minutes from Carlsbad Village,” said Grobelny. “Our team secured this property for our client off-market while in the final stages of construction.”
- ◦Sale/Acquisition




