San Diego, CA –March 5, 2024 – Lee & Associates – NSDC is excited to announce the sale of 5052 Wightman Street, a 44-unit multifamily investment property located in San Diego. The Von Bluecher Group – the Multifamily brokerage team of Lee & Associates North San Diego County, Eric von Bluecher and Ivan Del Muro-Garcia brokered the sale of 44 units in the City Heights/Colina Del Sol neighborhood of San Diego, representing both the…
Historic “Kahle Residence” in San Diego’s Golden Hill Sells for $1,196,000
San Diego, CA – January 19, 2024 – Lee & Associates – NSDC, is excited to announce the sale of 1058 21st St, a historical residential/mixed use property in San Diego. This vernacular-style home was originally constructed as a single-family residence and later converted into an office space, operating seamlessly for over 35 years. Despite the building’s age, it remained well maintained throughout multiple decades of ownership. The comprehensive marketing plan, officially launched…
4-Unit Multifamily Investment Property in Vista Sells for $1,387,430
Vista, CA –January 11, 2024 – Lee & Associates – NSDC, a premier commercial real estate firm in San Diego County, is excited to announce the sale of 247 Alestar St, a 4-unit investment property in Vista. The property was sold for $1,387,430 which was 103% of the listing price. Brought to market on November 1, 2023, The Von Bluecher, the Lee & Associates North San Diego County Multifamily Team – Eric von Bluecher…
8-Unit Multifamily Investment Property in North Park Sells for $2,775,000
North Park, CA – January 9, 2024 – Lee & Associates – NSDC, a premier commercial real estate firm in San Diego County, is excited to announce the sale of 3711 Grim Avenue, an 8-unit investment property in North Park. The property was sold for $2,775,000 which was $25,000 above the listing price. Brought to market on November 1, 2023, The Von Bluecher Group executed full marketing and were able to generate multiple offers from…
Driving the Residential Market
The San Diego apartment market continues to be on fire with multiple offers on each appropriately priced multifamily offering. Cap rates below 4% are becoming a reality. Rents are continuing to rise, vacancies are declining, and the number of units available is shrinking. Vacancies are at 2.4%, rent growth is at 12.8% across the board where newer buildings increased in the 15-17% range. When COVID hit, it pushed most renters away from the coast in…
102,000-SF Industrial Building in Normal, IL Sold for $4.85 Million
Normal, IL – Lee & Associates, one of the largest national commercial real estate firms, has completed the $4,850,000 investment sale of an approximately 102,000-square-foot manufacturing and warehouse facility on 7.59 acres located at 2219 W. College Avenue in Normal, IL. The building is leased to Superior Consolidated Industries dba SC2 Services, Inc. (www.sc2services.com), a third-party logistics services (3PL), filtration, warehousing, contract packaging, industrial finishing, kitting, sequencing, sub-assembly and manufacturing support for Tier 1 and…
542 Unit, Fully Entitled Apartment Site Sells in Murrieta CA
September 8, 2021 Carlsbad CA – Lee & Associates, a nationwide leader in commercial real estate services, announces the sale of a 542 unit apartment site on Los Alamos Rd in Murrieta CA. The sale was brokered by the Lee Land Team consisting of Matt Weaver, Al Apuzzo and Alex Bentley. The property consists of 24.81 acres and is substantially mass graded. The 542 unit site consists of 2 phases. “There is a lack of…