SAN DIEGO – Urban Property Group, a real estate services firm specializing in urban and coastal commercial property, managed the sale of an 8-unit multifamily, 5,272-square-foot building located at 4774 33rd St, San Diego, California, for $3,975,000.
The 100% occupied, recently renovated property is comprised of one- and two-bedroom units and is located in the Normal Heights neighborhood. In 2021, Urban Property Group represented the buyer (current seller) in the purchase of this building and has now facilitated the current deal to garner a profitable transaction for the seller in less than two years.
Joe Brady of Urban Property Group represented the seller. The buyer was represented by Anelia Genchev of Century 21 Award.
“San Diego has recently welcomed more residents from higher-cost cities such as Los Angeles and the San Francisco Bay area, so the apartment market is still in strong demand as occupancies continue to escalate and rent continues to grow,” said Brady. “With sustained growth in San Diego, multifamily properties will continue to be desirable investments.”
Normal Heights is a lively, uptown neighborhood with many hip cafes, gastropubs, craft beer bars and diverse restaurants. Amenities are concentrated along Adams Avenue, which is approximately one block walking distance from the 4774 property.
About Urban Property Group
Urban Property Group, Inc., (UPG), are neighborhood experts from Downtown/Central San Diego to North County coastal. Founded by Bill Shrader in 1989, the team has over 100 combined years’ experience providing advisory, sales and leasing services to urban property owners. UPG understands the neighborhood dynamics that we work and live in and maintains close relationships with clients and tenants to create multi-dimensional communities. UPG offers more exact results to clients by allowing our 7 professionals to focus on their individual areas of expertise and unique neighborhoods. UPG also maintains a dedicated analyst and support system specific to urban commercial assets from retail to office and multifamily.