San Diego’s low inventory had its advantages for the buyer of Las Palmas Apartments. The private buyer recently purchased the property for $4.1 million from Voltaire Street LLC. The 18-unit multifamily property is located at 3864 35th St. in San Diego within the North Park/Cherokee Point submarket.

The NorthMarq team consisting of Erik Anderson and Kyle Pinkalla arranged the sale. Anderson and Pinkalla represented the seller and sourced the undisclosed buyer in the transaction.

“With the low amount of available inventory in the market currently, the buyer was attracted to purchasing the asset off market at a favorable basis per unit,” said Anderson. “The buyers intend to do a full interior and exterior remodel to the asset, and are excited about the additional gentrification of the area.”