X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO-A San Diego apartment complex has fetched $128,166 per unit, in the latest signal of the solid investment activity currently taking place in the region’s multifamily sector.

Private investor Jon G. Stamatopoulos of La Mesa has shelled out a total of $769,000 for the San Diego apartment asset, which is known as Marlborough. Located at 4446-52 Marlborough Ave., the six-unit property is comprised of a two-bedroom house with a studio in the front and four units located in a two-story facility in the rear. Recently repainted, the circa 1950s asset features a courtyard, barbecue area, laundry room, maintenance shop, single-car garage and three uncovered parking spaces.

Chad Bramwell of the San Diego office of Hendricks & Partners acted on behalf of both Stamatopoulos and the seller, HTC Properties Inc. of Sedona, AZ.

The San Diego apartment market is expected to stay in “solid shape” throughout the next year, according to a recent Marcus & Millichap report that points to an increase in sale prices over the next 12 months. According to the firm’s researchers, sale prices are also expected to continue on an upward climb, with the median price “expected to post a 7% increase over the next year, to $107,000 per unit.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.