Marcus & Millichap Arranges Sale of University Heights MultiFam
Ben Sierpina and Raymond Choi in the Marcus & Millichap San Diego Downtown office have arranged the $3.3 million sale of 4411 Louisiana St., a seven-unit apartment complex in the University Heights neighborhood of San Diego. The buyer was an undisclosed limited liability company and the seller was a personal trust.
Both parties in the transaction were participating in 1031 exchanges. The property sold at list price and generated multiple offers during the marketing process.
The property has been extensively renovated and features unit layouts that consist of three two-bedroom and four one-bedroom residences. Community amenities include gated access and on-site laundry. According to Marcus & Millichap, the sale constitutes both the highest price per square-foot and price per unit in the University Heights submarket this year.
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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