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1/10/17
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A three-property, 35-unit apartment portfolio located in San Diego’s North Park and University Heights neighborhoods sold for $8.7 mil, or $249k/unit. The properties total 24k sf and are located at 4366-72 and 4374-80 Mississippi St, 3744 Bancroft St, and 4534-40 30th St.
Peter Scepanovic and Corey McHenry of Colliers International San Diego Region’s Multi-Family Advisory Group represented the buyer, a San Diego-based private investor. The seller was a San Diego-based private family trust.
“This was a generational sale of a family-owned apartment portfolio to an investor who plans to reposition the properties in the market. As demand and property values remain strong for urban apartments, we will continue to see this trend,” said Scepanovic, Senior Vice President and leader of the Multi-Family Advisory Group at Colliers International San Diego Region.
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