California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New call-to-action
California  + San Diego  + Apartments  | 
Marcus & Millichap Arranges $4M Sale of La Mesa Apartment Complex

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.

Connect

Inside The Story

Marcus & Millichap's Aaron BoveHeartland Real EstateSouth Coast Commercial

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

Step 1: Select Education
  • ◦Sale/Acquisition
NewPoint-07-cube
New call-to-action
Colliers-59-cube
AshcroftCapital-07-cube