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Marcus & Millichap Closes Multifamily Sale in Hillcrest

Marcus & Millichap closed the sale of 4043 First Ave., a 15-unit apartment property located in San Diego. The asset sold for $6,050,000.

“This property holds incredible value-add potential and benefits greatly to the two hospitals within walking distance,” said Aaron Bove, senior managing director investments in Marcus & Millichap’s San Diego Del Mar office. Bove represented the seller, an individual or personal trust, to market the property. The buyer, AZ1 1st Ave 4043 LP, was procured by Bove.

The property is located in San Diego’s Hillcrest neighborhood. It comprises six one-bedroom/one-bath units and nine two-bedroom/two-bath units.

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Inside The Story

Marcus & Millichap's Bove

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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