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Commercial Asset Advisors Closes $5.7M Sale of 27-Unit Multifamily Asset in National City

  • Writer: CAA
    CAA
  • 7 days ago
  • 2 min read
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CA NATIONAL CITY (San Diego), CA (September 26, 2025) 

Commercial Asset Advisors (CAA) is pleased to announce the successful sale of a 27-unit multifamily garden-style community located at 930 B Avenue, National City, CA 91950. The property closed escrow on September 22, 2025 for $5,700,000.


The Seller, represented by CAA Senior Vice President Maxwell Brown and Principal Mike Conger, disposed of the asset after navigating significant challenges, including heavy negative cash flow and extensive deferred maintenance. The Buyer, represented by South Coast Commercial, saw the acquisition as a rare opportunity to reposition a centrally located asset with both immediate value-add upside and future redevelopment potential under the Downtown Specific Plan and Opportunity Zone guidelines.


Property Highlights:

  • 27 units (25 registered + 2 unregistered) across 19,122 SF living space + 5,549 SF non-living space

  • 23 garages and multiple storage spaces

  • Primarily 2-bedroom unit mix

  • 15 units and all garages delivered vacant due to inhabitable conditions

  • Sold at $228,000 per registered unit / $211,111 per total unit count

  • Forecasted 7.0% yield on cost with $2M+ renovation budget


Strategic Positioning

“By sourcing 11 offers in just three weeks, we were able to drive strong competition and negotiate creative deposit structures to ensure a secure closing, despite the property’s distressed condition,” said Maxwell Brown, Senior Vice President at CAA. “This transaction underscores our ability to deliver results for owners facing highly complex dispositions.”


“The seller was eager to exit an asset requiring a seven-figure capex budget, while the buyer was eager to unlock its long-term potential,” added Mike Conger, Principal at CAA. “This is a win-win scenario where capital is being redeployed, and National City will benefit from the revitalization of workforce housing.”


This sale adds to CAA’s growing track record of successfully representing owners and investors across San Diego County, regardless of property type, location, or complexity.


For inquiries about this transaction or other multifamily investment opportunities, please contact:


Maxwell Brown, Senior Vice President – Multifamily Investment Sales | mbrown@caacre.com | DRE Lic. # 02127395


Mike Conger, Principal | mike@caacre.com | DRE Lic. # 01381193



About Commercial Asset Advisors

Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,500 sale and lease transactions totaling over $1.5 billion in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.


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