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7/25/22
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A nine-unit apartment property in San Diego’s Bankers Hill neighborhood traded for $4.34 mil ($482k/unit). The property is situated on a 9.5k sf lot located at 3354-3370 1st Ave, midway between I-5 and Hwy 163.
The prime location property consists of two two-bed/1.5-bath units, four two-bed/one-bath units, two one-bed/one-bath units and one studio unit. There are five garages and common laundry. The property has not been on the market in over 45 years. There is rent upside potential by making additional upgrades to the property.
The buyer, The Cynthia C. Underwood Family Trust, was represented by Terry Moore CCIM of ACI Apartments. The seller, The Salvatore and Maria Zizzo Family Trust, was repped by Salvatore Cefalu of Keller Williams.
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