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February 24, 2021
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MULTIFAMILY NEWS
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San Diego Apartment Comp Comes in at $220k per Unit

2/23/21

In a recent multifamily comp from San Diego, a 13-unit property in the city’s Ramona neighborhood sold for $2.64 mil, or $220k per unit. The 12.8k sf property sits on an 18k sf lot located at 733 B St.

Built in 1987, the property consists of eight two-bedroom/two-bath units and five two-bedroom/one-bath units. There are 15 parking spaces and onsite laundry, as well as air conditioning and balconies or yards. There is rent upside potential by making additional upgrades to the property.

Terry Moore, CCIM, of ACI represented both the buyer, San Diego-based JC Strategic LP, and the seller. The seller, T. Michael Turney and Benjamin Fried, Successor Trustees of the Hulter Family Trust, also from San Diego, sold the property as part of a multiple parcel estate sale. Moore has represented both clients on other transactions.




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