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.