Imperial Beach Apartments Trade to Local Buyer for $19M
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Marcus & Millichap arranged the sale of Hawaiian Gardens, a 64-unit apartment property located at 1031 Imperial Beach Blvd. in Imperial Beach. The asset sold for $19,000,000.
SVP investment Tom McCartin marketed the property on behalf of the seller, a private investor. He also represented the buyer, locally based F&F Properties.
“The buyer plans on doing a full interior and exterior rehab to the property which should greatly improve the Imperial Beach rental housing submarket,” said McCartin. “Rents were well below market at the time of sale. Multiple competing offers were generated because of attractive seller financing.”
Built in 1973, Hawaiian Gardens consists primarily of two-bedroom units.
Imperial Beach Apartments Trade to Local Buyer for $19M
Imperial Beach Apartments Trade to Local Buyer for $19M
[ad_1]
Marcus & Millichap arranged the sale of Hawaiian Gardens, a 64-unit apartment property located at 1031 Imperial Beach Blvd. in Imperial Beach. The asset sold for $19,000,000.
SVP investment Tom McCartin marketed the property on behalf of the seller, a private investor. He also represented the buyer, locally based F&F Properties.
“The buyer plans on doing a full interior and exterior rehab to the property which should greatly improve the Imperial Beach rental housing submarket,” said McCartin. “Rents were well below market at the time of sale. Multiple competing offers were generated because of attractive seller financing.”
Built in 1973, Hawaiian Gardens consists primarily of two-bedroom units.
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