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1/03/17
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The Van Dyke Apartments, an eight-unit res complex located in the Kensington neighborhood of San Diego, traded hands at a price of $2.3 mil, or $287.5k/unit. The property is located at 4344 Van Dyke Ave.
The Spanish-style property had just undergone a major $250k renovation in early 2016. The renovation included all brand new interiors featuring new wood laminate flooring, quartz countertops, new kitchen cabinets, new stainless steel GE appliances, new tile bathrooms, new glass shower doors, new bathroom fixtures, new baseboards, new paint, and new interior lighting.
The exterior underwent a conversion from standard apartment building to Spanish hacienda. The exterior improvements included all new front facade, new vintage Spanish doors and gate, terracotta tile in the courtyard, new BBQ, new storage locker area for tenants, new exterior lighting, new paint, and new laundry equipment.
The Van Dyke Apartments consists of three two-bedroom / one-bath units and five one-bedroom / one-bath units. The property is very well located in Kensington, just minutes from downtown San Diego and Mission Valley.
There were no vacancies at the time of sale. The property includes a laundry room, gated access, and on-site parking.
Mark Morgan of ACI represented the seller, Vaerus Van Dyke LLC, of San Diego. The buyer, Dr. Xiaowu Liang of San Diego, was represented by John Ronis and Jose Magadan of Berkshire Hathaway.
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