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5/22/14
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A seven-unit apartment property in San Diego’s North Park/University Heights submarket recently traded hands at a price of $1.5 mil, or about $214k/unit. The property, called The Hamilton St. Apartments, is located at 4562 Hamilton St, south of I-8 and west of I-805.
Constructed in 1980, the property offers tenants on-site parking, covered parking, storage lockers, and communal laundry room. All units have been recently upgraded with new paint, new appliances, and new flooring.
The Hamilton St. Apartments have an average unit size of 777 sf and consists of six two-bedroom / one-bath units and one two-bedroom / 1.5-bath unit. The building contains 5.4k sf of rentable space and is situated on a 7k sf lot. It was 100% occupied at time of sale.
The property was sold by TSF Properties. The buyers, Kevin and Michelle Lyons, were repped by Mark Morgan of ACI Apartments.
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