Residential Development Sells for $3 Million in San Diego
Commercial Asset Advisors just announced that Hari Vision Unlimited, LLC, sold a residential project in the Encanto neighborhood of San Diego for $3.4 million in a 1031 exchange to the Charles Pick and Susan E. Pick Revocable Trust. The 12-unit property is located at 5406-5418 Imperial Ave.
“This unique residential project offers the buyer an opportunity to purchase safe, income producing assets in a growing market,” Matt Monterroso of CAA who represented the buyer, said. “Our experience in 1031 exchanges allowed for a successful close and a smooth buyer experience.”
The 49-year-old property consists of three adjacent properties with four units each. The property is in an Opportunity Zone. Benn Vogelsang of South Coast Commercial represented the seller.