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California  + San Diego  + Apartments  |  March 12, 2021
Lisa Brown
By: Lisa Brown

University Heights Multifamily is Highest Price Per Unit and SF

In one of the highest price per unit and square foot sales ever recorded in the University Heights neighborhood (according to Trujillo), 4366-80 Mississippi St. in San Diego recently sold for $6.4 million. The buyer was JAAM Santa Fe LLC.

Clark Rorbach and Ray Adams with Cushman & Wakefield represented the buyer. Carson Trujillo, an investment specialist in Marcus & Millichap’s San Diego office, had the exclusive listing to market the property on behalf of the seller, Vaerus Mississippi LLC. According to Trujillo, the property received multiple competing offers.

Constructed in 1956 and remodeled in 2018, this property rests on an approximate 14,000-square-foot lot and offers 12,240 of rentable square feet. 4366-80 Mississippi St is comprised of two buildings, each on a separate parcel with two-bedroom one-bathroom units. These remodeled units include stainless steel appliances, quartz countertops and updated bathrooms. Exterior renovations include new roofs.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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