{"id":5901,"date":"2024-12-12T14:41:05","date_gmt":"2024-12-12T22:41:05","guid":{"rendered":"https:\/\/www.lee-associates.com\/sandiegonorth\/?p=5901"},"modified":"2025-10-08T15:26:59","modified_gmt":"2025-10-08T22:26:59","slug":"7-unit-apartment-building-in-north-park-sells-for-2940000","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/sandiegonorth\/2024\/12\/12\/7-unit-apartment-building-in-north-park-sells-for-2940000\/","title":{"rendered":"7-Unit Apartment Building in North Park Sells for $2,940,000"},"content":{"rendered":"<div id=\"pl-5901\"  class=\"panel-layout\" ><div id=\"pg-5901-0\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-5901-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-5901-0-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><strong>North Park, CA \u2013<\/strong> December 12, 2024 - Lee &amp; Associates - The Von Bluecher Group \u2013 the Lee &amp; Associates San Diego Multifamily team \u2013 successfully represented the seller in the North Park Multifamily sale of\u00a0<strong>3746 31st St<\/strong>, a well-maintained apartment building located just steps from University Avenue and the vibrant 30th Street corridor. Through our\u00a0<strong>strategic multi-phase marketing process<\/strong>, we navigated challenges such as a high-interest rate environment, the property\u2019s age, and three vacancies to secure the best price and terms the market would bear. The North Park Multifamily sale marks the highest price\/unit for 1960-1970s construction building in 92104 in the past 12 months. Of note, the only two 1960-1970s construction buildings that sold for a higher price\/unit where fully renovated inside and out. The aesthetic of the building, the strong walkable location and unit mix of 72% 2 bed, 2 bath, all contributed to a strong value add and a high quality investment opportunity and a prime North Park Multifamily Sale.<\/p>\n<p>&nbsp;<\/p>\n<p>Sale Highlights:<\/p>\n<ul>\n<li><strong>North Park Multifamily Final Sale Price:<\/strong>$2,940,000<\/li>\n<li><strong>Price Per Unit:<\/strong>$420,000<\/li>\n<li><strong>Price Per Foot:<\/strong>$543.24<\/li>\n<li><strong>Achieved:<\/strong>1% of the asking price<\/li>\n<li><strong>Offers:\u00a0<\/strong>Multiple<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>This North Park apartment building was an ideal investment opportunity, offering stability and significant value-add potential. Through strategic marketing and skilled negotiation, we delivered a successful transaction, demonstrating our expertise in navigating complex market conditions and achieving outstanding results for our clients.<\/p>\n<p>&nbsp;<\/p>\n<p>North Park Multifamily Sale Highlights:<\/p>\n<ul>\n<li><strong>7 Units:<\/strong>Five 2-bedroom, 2-bath units (72% of the mix) and two 1-bedroom, 1-bath units.<\/li>\n<li><strong>773 SF Average Unit Size<\/strong><\/li>\n<li><strong>Well-Maintained Interiors:<\/strong>Vinyl flooring, tile counters, and updated appliances in most units.<\/li>\n<li><strong>On-Site Amenities:<\/strong>Income-generating laundry facilities and 7 storage cabinets.<\/li>\n<li><strong>98 Walk Score:<\/strong>A short walk to North Park\u2019s top nightlife, restaurants, shopping, theaters, and breweries.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>North Park Multifamily Location Advantages:<\/p>\n<ul>\n<li>Centrally located near the\u00a0<strong>15, 805, 163, and 8 Freeways<\/strong>.<\/li>\n<li>Minutes from\u00a0<strong>Balboa Park<\/strong>, offering museums, events, concerts, and more.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>North Park Multifamily Investment Performance:<\/p>\n<p>&nbsp;<\/p>\n<p>This property was marketed as a\u00a0<strong>prime value-add investment opportunity<\/strong>, with over 20% potential upside through upgrades such as in-unit washer\/dryers and new windows.<\/p>\n<p>For more details on this sale or to discuss other investment opportunities\u2014whether on market, off market, or for general market guidance\u2014contact us today.<\/p>\n<p>&nbsp;<\/p>\n<p>Contact list agents the full marketing brochure and<a href=\"https:\/\/www.youtube.com\/watch?v=y5eU84OHi58\">\u00a0click here for full property video<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><u>ABOUT THE VON BLUECHER GROUP<\/u><\/strong><\/p>\n<p>The Von Bluecher Group\u2019s multifamily team is highly educated, with members graduating from the University of San Diego and being part of the Burnham-Moores Center for Real Estate, one of the most prestigious business and real estate schools in the nation Ivan Del Muro-Garcia grew up in Chula Vista, in South County San Diego, and has been deeply connected to the region since childhood. Ivan is also bilingual in English and Spanish, greatly benefiting our diverse client base in the area. Leo Lagrimas III, originally from Monterey, California, also graduated from the Burnham-Moores Center for Real Estate at USD. Captivated by San Diego's energy, Leo chose to stay after graduation and now specializes in the dynamic city center of Central San Diego. Together, our team\u2019s deep local roots, top-tier education, and dedication to the San Diego market ensure we deliver exceptional service and results for our clients.<\/p>\n<p>&nbsp;<\/p>\n<p>_______________________________________________________________________________________________________________________________________________<\/p>\n<p>&nbsp;<\/p>\n<p><strong>VENDIDO: Edificio de Apartamentos de 7 Unidades en North Park \u2013 3746 31st St, San Diego, CA 92104<\/strong><\/p>\n<p>El equipo de The Von Bluecher Group \u2013 Lee &amp; Associates San Diego Multifamily \u2013 represent\u00f3 exitosamente al vendedor en la venta del multifamiliar de North Park ubicado en 3746 31st St, un edificio de apartamentos bien mantenido, situado a solo pasos de University Avenue y del vibrante corredor de 30th Street. A trav\u00e9s de nuestro proceso estrat\u00e9gico de marketing en varias fases, superamos desaf\u00edos como un entorno de altas tasas de inter\u00e9s, la antig\u00fcedad del edificio y tres vacantes para asegurar el mejor precio y las condiciones m\u00e1s favorables que el mercado podr\u00eda ofrecer. La venta del multifamiliar en North Park marca el precio m\u00e1s alto por unidad para un edificio de construcci\u00f3n de los a\u00f1os 1960-1970 en el c\u00f3digo postal 92104 en los \u00faltimos 12 meses. Cabe destacar que los \u00fanicos dos edificios de la misma \u00e9poca que se vendieron a un precio por unidad m\u00e1s alto fueron completamente renovados tanto por dentro como por fuera. La est\u00e9tica del edificio, su excelente ubicaci\u00f3n caminable y la distribuci\u00f3n de unidades, con un 72% de 2 rec\u00e1maras y 2 ba\u00f1os, contribuyeron a un alto valor agregado, lo que hizo de esta una oportunidad de inversi\u00f3n de alta calidad y una venta clave en North Park.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Destacados de la Venta:<\/strong><\/p>\n<ul>\n<li>Precio final de venta: <strong>$2,940,000<\/strong><br \/>\n\u2022 Precio por unidad: <strong>$420,000<br \/>\n<\/strong>\u2022 Precio por pie cuadrado: <strong>$543.24<\/strong><br \/>\n\u2022 Logrado: 98.1% del precio de venta solicitado<br \/>\n\u2022 Ofertas: M\u00faltiples<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Este edificio de apartamentos en North Park represent\u00f3 una oportunidad de inversi\u00f3n ideal, ofreciendo estabilidad y un significativo potencial de valorizaci\u00f3n. A trav\u00e9s de una estrategia de marketing efectiva y una negociaci\u00f3n h\u00e1bil, logramos una transacci\u00f3n exitosa, demostrando nuestra experiencia en la navegaci\u00f3n de condiciones complejas del mercado y alcanzando resultados sobresalientes para nuestros clientes.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Destacados de la Venta en North Park Multifamily:<\/strong><\/p>\n<ul>\n<li>7 Unidades: Cinco unidades de 2 rec\u00e1maras y 2 ba\u00f1os (72% de la distribuci\u00f3n) y dos unidades de 1 rec\u00e1mara y 1 ba\u00f1o.<br \/>\n\u2022 Tama\u00f1o promedio de unidad: 773 pies cuadrados<br \/>\n\u2022 Interiores bien mantenidos: Piso de vinilo, encimeras de cer\u00e1mica y electrodom\u00e9sticos actualizados en la mayor\u00eda de las unidades.<br \/>\n\u2022 Amenidades en el lugar: Instalaciones de lavander\u00eda generadoras de ingresos y 7 gabinetes de almacenamiento.<br \/>\n\u2022 Puntaje de caminabilidad 98: A poca distancia de la mejor vida nocturna, restaurantes, tiendas, teatros y cervecer\u00edas de North Park.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Ventajas de la Ubicaci\u00f3n en North Park:<\/strong><\/p>\n<ul>\n<li>Ubicaci\u00f3n c\u00e9ntrica cerca de las autopistas 15, 805, 163 y 8.<br \/>\n\u2022 A minutos de Balboa Park, que ofrece museos, eventos, conciertos y m\u00e1s.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Rendimiento de la Inversi\u00f3n en North Park Multifamily:<\/strong><\/p>\n<p>Esta propiedad fue comercializada como una oportunidad principal de inversi\u00f3n con valor agregado, con un potencial de valorizaci\u00f3n superior al 20% mediante mejoras como lavadoras\/secadoras en las unidades y nuevas ventanas.<\/p>\n<p>Para m\u00e1s detalles sobre esta venta o para discutir otras oportunidades de inversi\u00f3n, ya sea en el mercado, fuera de mercado o para orientaci\u00f3n general del mercado, cont\u00e1ctenos hoy mismo.<br \/>\nLista de contactos de agentes, folleto completo de marketing y haga clic aqu\u00ed para ver el <a href=\"https:\/\/www.youtube.com\/watch?v=y5eU84OHi58\">video completo de la propiedad<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pg-5901-1\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-5901-1-0\"  class=\"panel-grid-cell\" ><div id=\"panel-5901-1-0-0\" class=\"so-panel widget widget_sow-image panel-first-child panel-last-child\" data-index=\"1\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-image so-widget-sow-image-default-8b5b6f678277-5901\"\n\t\t\t\n\t\t>\n<div class=\"sow-image-container\">\n\t\t\t<a href=\"https:\/\/www.lee-associates.com\/people\/?terms=eric+von+bluecher&#038;broker=92224\"\n\t\t\t\t\t>\n\t\t\t<img \n\tsrc=\"https:\/\/www.lee-associates.com\/sandiegonorth\/wp-content\/uploads\/sites\/89\/2024\/07\/Eric-von-Bluecher-2024.jpg\" width=\"236\" height=\"256\" srcset=\"https:\/\/www.lee-associates.com\/sandiegonorth\/wp-content\/uploads\/sites\/89\/2024\/07\/Eric-von-Bluecher-2024.jpg 900w, https:\/\/www.lee-associates.com\/sandiegonorth\/wp-content\/uploads\/sites\/89\/2024\/07\/Eric-von-Bluecher-2024-473x512.jpg 473w, https:\/\/www.lee-associates.com\/sandiegonorth\/wp-content\/uploads\/sites\/89\/2024\/07\/Eric-von-Bluecher-2024-768x832.jpg 768w\" sizes=\"(max-width: 236px) 100vw, 236px\" title=\"Eric von Bluecher\" alt=\"\" \t\tclass=\"so-widget-image\"\/>\n\t\t\t<\/a><\/div>\n\n<h3 class=\"widget-title\">Eric von Bluecher<\/h3><\/div><\/div><\/div><div id=\"pgc-5901-1-1\"  class=\"panel-grid-cell\" ><div id=\"panel-5901-1-1-0\" class=\"so-panel widget widget_sow-image panel-first-child panel-last-child\" data-index=\"2\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-image so-widget-sow-image-default-8b5b6f678277-5901\"\n\t\t\t\n\t\t>\n<div class=\"sow-image-container\">\n\t\t\t<a href=\"https:\/\/www.lee-associates.com\/people\/?terms=ivan+del+m&#038;broker=116968\"\n\t\t\t\t\t>\n\t\t\t<img \n\tsrc=\"https:\/\/www.lee-associates.com\/sandiegonorth\/wp-content\/uploads\/sites\/89\/2024\/07\/Ivan-Del-Muro-Garcia.jpg\" width=\"236\" height=\"256\" srcset=\"https:\/\/www.lee-associates.com\/sandiegonorth\/wp-content\/uploads\/sites\/89\/2024\/07\/Ivan-Del-Muro-Garcia.jpg 900w, https:\/\/www.lee-associates.com\/sandiegonorth\/wp-content\/uploads\/sites\/89\/2024\/07\/Ivan-Del-Muro-Garcia-473x512.jpg 473w, https:\/\/www.lee-associates.com\/sandiegonorth\/wp-content\/uploads\/sites\/89\/2024\/07\/Ivan-Del-Muro-Garcia-768x832.jpg 768w\" sizes=\"(max-width: 236px) 100vw, 236px\" title=\"Ivan Del Muro-Garcia\" alt=\"\" \t\tclass=\"so-widget-image\"\/>\n\t\t\t<\/a><\/div>\n\n<h3 class=\"widget-title\">Ivan Del Muro-Garcia<\/h3><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>North Park, CA \u2013 December 12, 2024 &#8211; Lee &amp; Associates &#8211; The Von Bluecher Group \u2013 the Lee &amp; Associates San Diego Multifamily team \u2013 successfully represented the seller in the North Park Multifamily sale of\u00a03746 31st St, a well-maintained apartment building located just steps from University Avenue and the vibrant 30th Street corridor. Through our\u00a0strategic multi-phase marketing process, we navigated challenges such as a high-interest rate environment, the property\u2019s age, and three vacancies&#8230;<\/p>\n","protected":false},"author":22,"featured_media":5902,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1064,6],"tags":[1015,1074,1069,1051],"class_list":["post-5901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-multi-family","category-press-releases","tag-eric-von-bluecher","tag-ivan-del-muro-garcia","tag-multifamily","tag-multifamily-advisory-group"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>7-Unit Apartment Building in North Park Sells for $2,940,000 - San Diego North | Lee &amp; Associates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/sandiegonorth\/2024\/12\/12\/7-unit-apartment-building-in-north-park-sells-for-2940000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"7-Unit Apartment Building in North Park Sells for $2,940,000\" \/>\n<meta property=\"og:description\" content=\"North Park, CA \u2013 December 12, 2024 - 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