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La Mesa Apartment Complex Changes Hands for $4M
Real estate brokerage firm Marcus & Millichap has arranged the $4 million sale of 4590 Date Avenue, a 12-unit multifamily property in La Mesa, CA. The firm represented the seller in the transaction, a limited liability company. The buyer was a personal trust.
Aaron Bove, Senior Managing Director in Marcus & Millichap’s San Diego Del Mar office and Frank McLin of Heartland Real Estate had the exclusive listing to market the property while South Coast Commercial’s Jeff Diller and Abe Peay represented the buyer.
Bove said, “Even in today’s market with higher interest rates, multifamily properties are still in high demand. We were able to generate 12 offers and the property closed $500,000 over list price.”
The Date Avenue complex is comprised of one- and two-bedroom units built around a central courtyard offering shaded dining and a BBQ. Eight of the units have been remodeled with plank flooring and granite counters.
- ◦Sale/Acquisition
