ARG Brokers $7M Sale of San Diego Multifamily Portfolio

Apartment Realty Group (ARG) has brokered the $6.8 million combined sale of two identical 9-unit apartment complexes in San Diego. Two affiliated local LLC’s purchased the properties, White Sand Beach Capital, LLC and Holt Family Investments, LLC.

“The two assets garnered substantial buyer interest and we generated several offers due to the location, but particularly because of the value-add component, and we closed escrow $750,000 above asking prices,” said ARG Senior Managing Partner James Carter who represented the seller, The Neubert Family Trust, along with the firm’s Anastasia Duboshina.

The two properties are located just a few streets from each other in San Diego’s popular North Park neighborhood. One building is situated at 3960 Idaho St., and the other at 4152 Iowa St., and each property consists of six one-bedroom units and three three-bedroom units.