A five-unit apartment property in Point Loma has been sold for $2.6 million, according to a real estate brokerage.
“We had eight offers generated and a 10-day list price cash closing,” said Conor Brennan, senior vice president for investments in Marcus & Millichap’s San Diego Downtown office. “The buyer plans to deck out the property to highest-end finishes.”
Brennan represented the seller, the Jacqueline Joan Horner Trust, as well as the buyer, G Avenue Holding, LLC, a limited liability company.
The property, at 301-309 San Elijo St., has views of San Diego Bay, Coronado and downtown. It was built in 1960 and includes five large two-bedroom units. It was 40% vacant at the time of sale.
Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm, specializes in investment sales, financing, research and advisory services.