8 Unit Multi-Family Investment Property Sold for $1,349,000

Tuesday, November 18, 2014

Sale Summary: Richard Hitz and Ian Bradley of ECP Commercial successfully represented the Seller in the sale of an eight-unit multi-family investment property located at 4144 N. 48th Street, San Diego, CA 92105. The property was sold at full asking price of $1,349,000, or $168,625/unit setting a new market record comp with an approximately 4.71% effective CAP RATE and a GRM of approximately 12.33. The Buyer was represented by Aziz Zakkout & Aaron Bove of Marcus & Millichap

Escrow: Karen Stephens of Ticor Title

Buyer: Johnny L. Cruse & Cindy R. Cruse

Seller: MPNEE, Inc.

Seller Representation: Richard Hitz & Ian Bradley of ECP Commercial

Sale Price: $1,349,000

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