October 16, 2019— Colliers International San Diego Region announces that MFL Properties has acquired one retail and two multi-family properties located in San Diego County’s Normal Heights and Oceanside neighborhoods for $4,198,000.
Joe Brady of Colliers International’s San Diego Urban Property Team represented MFL Properties in all three transactions. “This recent investment by MFL Properties is representative of the overall market demand we are seeing throughout the county,” said Joe Brady. “Investors continue to seek out retail and multifamily properties in growing San Diego neighborhoods like Oceanside and Normal Heights, among others.”
The 1,000-square foot retail property is located at 3432 Adams Avenue, San Diego CA. The Normal Heights property is fully occupied by two tenants including Archwork, a permanent makeup studio, and White Rabbit Day Spa.
Also in Normal Heights, MFL Properties acquired a 4,892-square foot multi-family property comprised of eight units and located at 4770 32nd Street, San Diego, CA. In Oceanside, the investment group acquired a 6,270-square foot and nine-unit multi-family property located at 901 Hillcrest Place, Oceanside, CA.
Financing for 901 Hillcrest Place and 4770 32nd Street was provided by Caroline Gilligan at Banc of California. John Henry Winter-Nolte with Urban Coast Properties, Inc. will be retained for property management.