Cushman & Wakefield Represents both Parties in Transaction
SAN DIEGO, Calif., September 16, 2019 – Cushman & Wakefield announced today the firm has brokered the sale of a 7-unit apartment complex in the Point Loma neighborhood of San Diego, California. The property is located at 3020 Macaulay St. and consists of (4) 1-bed/1-bath units and (3) 2-bed/2-bath units. The two-story complex sold for $2.1 million, or $300,000 per unit.
The seller was a private investor and the buyer was 3020 Macaulay, LLC. Ray Adams, Clark Rorbach and Michael Biddick, multifamily investment specialists with Cushman & Wakefield’s San Diego office, represented the seller in the transaction. Rorbach and Adams also represented the buyer.
The property was originally constructed in the late 1950s and was recently renovated with new countertops, cabinetry, flooring and bathrooms within each unit, along with light exterior upgrades. There is also partially covered parking.
Point Loma is a popular neighborhood in San Diego, offering many amenities and recreational activities for residents and visitors.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.