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4/03/17
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San Diego-based WSC Investment Partners LLC recently acquired a 20-unit multifamily property in the city’s North Park neighborhood for $4.5 mil, or $225k/unit. The 13k sf property is situated on a 14.4k sf lot at 4161-67 Iowa St, south of El Cajon Blvd and just west of I-805.
The property consists of two 10-unit apartment buildings constructed in 1958/1961. The unit mix includes one two-bedroom/two-bath unit, five two-bedroom/one-bath units and 12 one-bedroom/one-bath units, along with two studios.
This property has never before been on the market. It has been owned by the original owner/builder since construction. Located just a few blocks west of North Park Community Park, the property is close to area restaurants, shopping destinations, and local recreational spaces.
The seller, Groebli Family Trust of La Jolla, was represented by Norm Root of ACI. The buyer was repped by Robert Vallera of Voit Real Estate Services.
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