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.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!