Description
The Marlborough Avenue Apartments located just south of Meade Ave and north of El Cajon Blvd has been sold for $1,315,000 in an all cash transaction. The eight (8) unit Huffman building located at 4352 Marlborough Avenue San Diego, CA 92105 was built in 1969 and consists of five (5) 1 Bedroom units and three (3) 2 Bedroom units.
Doug Taber, Senior Vice President of Apartment Realty Group (ARG) represented the seller, a local private investor. The buyer was represented by Mark Morgan of ACI Apartments. Doug Taber of ARG had the exclusive listing – the seller was the original developer and this was the first time the property had been on the market. ARG’s marketing produced over six (6) written offers within the first week of marketing.
Sales Summary:
# of Units: 8
Sales Price: $1,315,000
Cap Rate: 2.5%
ProForma Cap Rate: 5.03%
GRM: 18.4
ProForma GRM: 12.4
Sales $/Unit: $164,375
Sales $/SF: $266
Loan Terms: N/A, All-cash
Testimonial
“Doug Taber was one of the many agents that contacted me through the many years that I had owned the eight unit apartment building. I was impressed. Doug kept me informed and he negotiated terms in my best interest. I am more than pleased with the price and with Doug. He was even helpful after the escrow closed. I highly recommend Doug.”
Bettie – 8 Unit Sale
