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March 21, 2019
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MULTIFAMILY NEWS
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Apartment Property in San Diego’s North Park Neighborhood Fetches $177k/Unit

12/31/18

A 25-unit residential complex in the San Diego neighborhood of North Park sold for $4.425 mil, or $177k/unit. The 12k sf property is situated on a 14k sf lot at 4025 Cherokee Ave.

The property, which is located just north of University Ave, has a unit mix of 22 one-bedroom units (approximately 475 sf) and three two-bedroom units (approximately 775 sf). In addition to 23 parking spaces, the property boasts a gated security entry and a tranquil courtyard.

The property is only a few blocks from Cherokee Point Elementary School and can easily access recreation spaces at both Wabash Park and Park de la Cruz. The location is also conveniently located close to both the I-15 and I-805 freeways. This allows for easy access to downtown San Diego, Mission Bay, and the Pacific Ocean.

Norm Root of ACI Apartments represented the seller, Dr. David Kennedy. The buyer, WSC Investment Partners, was repped by Norm Root, also with ACI Apartments.





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