Marcus & Millichap Closes Multifamily Sale in San Diego’s College East

Marcus & Millichap closed the sale of The Molokai Apartments, a 39-unit multifamily property in San Diego. The property sold for $11.2 million, or $287,179 per unit.

“The property received a tremendous amount of attention from the investment community due in part to its spacious floor plans, which average more than 800 square feet and are significantly larger than the average units in the area,” said Austin Ray Huffman, senior director investments. “Buyers were also drawn to the property’s tenant amenities, including a private pool, secure access, storage and off-street parking.”

Huffman and Chris Zorbas, of the Zorbas Huffman Group based out of Marcus & Millichap’s San Diego office, marketed the property on behalf of the seller, Vista International, Inc. The buyer, a private investor, was represented by Michael Wolf of Coldwell Banker West.

Built in 1971, The Molokai Apartments is a 32,204-square-foot property situated on 0.99 acres at 5055 73rd St. in San Diego’s College East neighborhood.

Read More News Stories About: Marcus & Millichap

Connect

Inside The Story

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).

Order Reprints