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California  + San Diego  + Apartments  | 

Private Trust Snaps Up 52-Unit National City Apartments

Marcus & Millichap recently completed the sale of a 52-unit apartment property located at 940 Palm Ave. in National City. The sale price was $15,000,000.

“National City is experiencing a significant surge in multifamily sale activity, thanks to its strategic location within the Greater San Diego area and its relative affordability compared to neighboring cities,” said Aaron Bove, senior managing director investments in Marcus & Millichap’s San Diego Del Mar office. “This has resulted in strong rental demand supported by a diverse population and a steady influx of residents seeking proximity to employment hubs, educational institutions and urban amenities.”

Bove marketed the property on behalf of the seller, Admiralty Apartments LLC. The buyer, a private trust, was also procured by Bove.

“By generating 10 offers, we were able to create an environment that allowed the seller to adjust their priorities within the marketing process without sacrificing price or terms,” Bove added.

Read More News Stories About: Marcus & Millichap
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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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