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4/25/22
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A 16-unit apartment property in San Diego’s Hillcrest neighborhood sold for $5.57 mil, or $348k/unit. The 8.7k sf property is situated on a 7.1k sf lot located at 526-528 Anderson Place.
Built in 1911, the property consists of nine one-bedroom/one-bath units and seven studio/one-bath units with on-street parking. All kitchens and most bathrooms have been tastefully remodeled, along with an added solar water heating system and resurfaced roof.
The San Diego seller, Anderson-Decorte LLC, was represented by Terry Moore, CCIM, of ACI Apartments, as part of a 1031 tax deferred exchange. The buyer, IIP Anderson LLC, was repped by Will Creagan of Southwest Equity Partners.
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