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California  + San Diego  + Apartments  | 

Marcus & Millichap Closes El Cajon Multifamily Sale

Marcus & Millichap finalized the sale of Palm Terrace, a 37-unit apartment property located in El Cajon. Built in 1994 and located at 330 N. 1st St., the asset sold for $9,350,000.

“This property presented investors with the rare opportunity to acquire a value-added asset featuring a great unit mix of all two bedroom/one bath units in a high barrier to entry market, El Cajon,” said Graeme Henderson, senior investment associate in Marcus & Millichap’s San Diego Del Mar office. “The size and unit mix of the asset intrigued the buyer in addition to an attractive assumable loan.”

Austin Ray Huffman, VP investments, and Christopher J. Zorbas, executive managing director in Marcus & Millichap’s San Diego Del Mar office, marketed the property on behalf of the seller, PI Properties NO. 24, LLC. The buyer, 8 Mendridge LLC., was procured by Henderson.

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Marcus & Millichap's Henderson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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