A recently constructed four-unit apartment property located near the beach in Carlsbad has been sold for $8.5 million, or approximately $2.13 million per unit, according to Marcus & Millichap, which brokered the deal.
The buyer of the Carlsbad apartment property was a private investor, whose identity was not disclosed. The transaction was facilitated by Conor Brennan, a senior vice president from Marcus & Millichap’s San Diego Downtown office, and Adrian Grobelny, an associate also based in the downtown office. The successful sale highlights the strong demand for upscale properties in desirable coastal locations.
The property at 312 Hemlock Ave., completed this year, consists of three-bedroom units and is expected to be managed by Mark Jaureguy of Chamberlain Property Management. With its prime location and luxurious features, the apartments are set to be introduced to the rental market in the coming weeks.
The units within 312 Hemlock Ave. boast high-end designer finishes. The open floor plans contribute to a spacious and modern living environment, while offering ocean views for residents to enjoy. Additionally, the property incorporates solar panels to provide net-zero energy, showcasing a dedication to sustainable living and reduced environmental impact.
Marcus & Millichap, a leading commercial real estate brokerage firm listed on the New York Stock Exchange (NYSE: MMI), specializes in various aspects of the real estate industry. The company’s core services include investment sales, financing, research, and advisory services.
