|
11/09/18
|
DMJ Partners has purchased a value-add multi-family project in San Diego’s Pacific Beach consisting of five buildings with 12 units for $5.5 mil ($458k/unit). The project is located at 3929-3933 Gresham S and 3958-3966 Riviera Dr in the Crown Point neighborhood, just one block from Mission Bay with direct beach access within close proximity of the asset.
The project was built in 1977 and is comprised of houses and townhomes, along with one- and two-bedroom apartments. The units offer open floor plans with fireplaces, some water views, private garages and patios with significant onsite parking. DMJ Partners plans to complete significant renovations to the interior and exterior of the project.
The Pacific Beach community, with its distinctive character, is a sought-after destination, offering spectacular views, beachside fun, attractive dining, shopping, and entertainment options. DMJ Partners plans to transform the asset to align with the young, professional, hip and beachy atmosphere of the neighborhood.
DMJ Partners was represented by Katie Herrick of Ascent Real Estate. The seller was repped by Patrick J. Park of Dunn, Realtors/Park Pacific Properties. South Coast Commercial will be handling the property management of the asset for DMJ Partners.
|
|
Return to the Archive page
|
|
|
|
|