A nine-unit apartment property off University Avenue in the Corridor area has sold for $2.55 million.
“This is the first time that the property has been on the market in over 40 years,” said Austin Huffman, first vice president investments in Marcus & Millichap’s San Diego Del Mar office. “The seller did a great job maintaining the property during his ownership.”
Huffman and Christopher J. Zorbas, executive managing director, investments for the office, represented the seller, an individual/personal trust. They also secured the buyer, Highridge Partners Inc.
The two-story property, 4033 36th St., includes six one-bedroom/one-bath units, three two-bedroom/one-bath units and four single-car garages.
Additionally, the property boasts off-street parking and on-site laundry. Recent upgrades include new electrical panels and vinyl flooring in some of the units. The new owner plans on converting the garages to two accessory dwelling units (ADUs).
Marcus & Millichap (NYSE: MMI) is a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services.