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North Park Apartment Trade Sets New Pricing Benchmark
Marcus & Millichap closed the sale of 3981 Oregon St., a nine-unit apartment complex located in San Diego’s North Park neighborhood. The sale price was $4,535,000.
Senior associate Ben Sierpina and SVP investments Raymond Choi, both of Marcus & Millichap’s San Diego Downtown office, marketed the property on behalf of the sellers, Garret Reuter and Matthew Holt. The buyer, a local private investor, was procured by Sierpina and Choi.
“This was the first extensively renovated complex over five units to trade in North Park this year and set a new pricing benchmark for the submarket.” said Sierpina. “The buyer closed all cash and the seller will be executing a 1031 exchange.”
The building has three two-bedroom / one-bathroom units and six one-bedroom / one-bathroom units. It underwent a complete renovation in 2023, including plumbing and electrical systems. All units were leased and achieved premium rents.
- ◦Sale/Acquisition




