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.
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.
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