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12/07/18
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In a recent apartment sales comp in La Jolla, a private investor paid $4.4 mil ($550k/unit) for an eight-unit, garden-style community. The property is located at 326-340 Palomar Ave, just west of La Jolla Blvd.
326-340 Palomar Ave is located in the prestigious La Jolla neighborhood near Bird Rock and Windansea Beach and less than 15 miles north of San Diego’s CBD via I-5. Originally built in 1965, the property features exclusively two-bedroom units averaging 850 sf. 326-340 Palomar was 100% occupied at closing.
The HFF team represented the buyer, a private investor who purchased the asset as part of a 1031 exchange. The investor’s legal representation was provided by the law offices of J. Geoffrey Barry, Esq.
Hunter Combs and Trent Jemmett with HFF represented the buyer, a private investor who purchased the asset as part of a 1031 exchange. The investor’s legal representation was provided by the law offices of J. Geoffrey Barry, Esq.
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