{"id":273735,"date":"2024-05-24T14:25:00","date_gmt":"2024-05-24T21:25:00","guid":{"rendered":"https:\/\/timesofsandiego.com\/?p=273735"},"modified":"2024-05-24T13:10:49","modified_gmt":"2024-05-24T20:10:49","slug":"renovated-north-park-apartment-building-sells-for-4-35-million","status":"publish","type":"post","link":"https:\/\/timesofsandiego.com\/business\/2024\/05\/24\/renovated-north-park-apartment-building-sells-for-4-35-million\/","title":{"rendered":"Renovated North Park Apartment Building Sells for $4.35 Million"},"content":{"rendered":"\n
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3981 Oregon St. in North Park. Photo credit: Courtesy, Marcus & Millichap<\/figcaption><\/figure>\n\n\n\n

A nine-unit urban apartment complex has been sold for\u00a0$4.53 million, a real estate brokerage announced.<\/p>\n\n\n\n

\u201cThis was the first extensively renovated complex over five units to trade in North Park this year and set a new pricing benchmark for the submarket.\u201d said Ben Sierpina, a senior associate in Marcus & Millichap\u2019s San Diego Downtown office. <\/p>\n\n\n\n

Sierpina and Raymond Choi, senior vice president investments, represented the sellers, Garret Reuter and Matthew Holt.\u00a0The buyer, a local private investor, also was procured by Sierpina and Choi.\u00a0\u00a0<\/p>\n\n\n\n

The property, at 3981 Oregon St., has three two-bedroom\/one-bathroom units and six one-bedroom\/one-bathroom units. The previous owners embarked on a complete renovation in 2023, including plumbing and electrical systems. All units were leased with premium rents, according to the brokreage.<\/p>\n\n\n\n

Marcus & Millichap (NYSE: MMI)<\/a> is a commercial real estate firm specializing in investment sales, financing,\u00a0research\u00a0and advisory services.<\/p>\n\n\n\n