North Park Apartment Complex Changes Hands for $5M

Warrior Foundation Freedom Station has purchased 4058 Hamilton Street, a 12-unit apartment property in the North Park neighborhood of San Diego. Marcus & Millichap’s Ben Sierpina and Raymond S. Choi represented the seller, a private corporation, in the $5 million transaction.

“The marketing process generated seven offers and the property sold above the list price in original condition with below market rents. At the time of sale, the property set a record price per unit in North Park for a 5+ unit building in original condition,” said Sierpina in a news release.

Originally constructed in 1952, the complex consists of 12 one-bedroom cottage style units and 10 single car garages. Located in the popular North Park neighborhood, the property is just off Interstates 8 and 805 and is only 4 miles from Downtown San Diego.

Dylan Wright and Connor Arleo of ACRE Investment Real Estate Services represented the buyer.