Apartment Realty Group sells Serra Mesa fourplex for $1.85 million

Apartment Realty Group closed the sale of a 4-unit apartment complex at 8573-79 Glenhaven St. in San Diego’s Serra Mesa neighborhood for $1.85 million. The deal highlights steady rental demand in a central submarket near major freeways.

Why it matters: - The sale shows continued investor interest in smaller apartment buildings in Serra Mesa, a neighborhood with strong rental demand. - The property’s location near I-8, CA-163 and I-15 adds to its appeal for tenants and buyers. - The closing price of $1.85 million gives a fresh pricing reference for similar multifamily assets in San Diego.

What happened: - Angelo La Bruna, senior vice president at Apartment Realty Group, represented both the seller and the buyer in the transaction. - The property sold was a 4-unit apartment complex at 8573-79 Glenhaven St. in San Diego, California 92123. - Apartment Realty Group said the deal closed for $1,850,000.

The details: - The building sits on a 7,325-square-foot parcel. - Each of the four units has 3 bedrooms and 2 bathrooms. - Each unit measures 1,130 square feet. - The property includes carport parking, yards, patios and oversized storage sheds. - The site is centrally located in one of San Diego’s strongest areas for rental demand. - The property offers proximity to I-8, CA-163 and I-15.

Between the lines: - La Bruna said the asset stood out for large floor plans, high rental income and a central location. - La Bruna said Apartment Realty Group’s targeted marketing plan helped secure a buyer who has owned multiple complexes in the area. - The buyer profile suggests local operators remain active in familiar submarkets where they can underwrite value quickly.

What's next: - The transaction may encourage more small multifamily owners in Serra Mesa to test the market if pricing remains firm. - Similar well-located fourplexes could continue drawing interest from buyers focused on stable in-place income and long-term hold potential.

The bottom line: - A centrally located Serra Mesa fourplex with larger units and practical amenities changed hands for $1.85 million, underscoring ongoing demand for small apartment assets in San Diego.