SALE DETAILS:
Address:
3831-3833 41St St, San Diego, CA 92105 & 5337-5347 Meade Ave, San Diego, CA 92115
APN:
454-7730-08-00 & 4720-041-11-00
Seller Representation: Pacific Coast Commercial
Broker Rep: Vince Provenzano, President of Brokerage & Robert Phillips, CEO
Buyer Representation: Pacific Coast Commercial
Broker Rep: Jan Sachs, Broker Associate, Multifamily & Investment Sales
Property Type: Multi-Unit Residential Complex
Square Footage: 41St Street: ± 6,746 SF | Meade Ave: ± 3,863 SF
Sale Price: $1,525,000 (Total Sale Price)
Close of Escrow Date: April 23, 2020
Seller Name: Carolina M. Rios Trust
Buyer Name: Asaf Presente & Juan Pedro Garcia / Claudia Cecilia Garcia
Escrow Company: Granite Escrow & Settlement Services, Lynn Yockey
Title Company: Ticor Title, Tonya Courtney
Additional Property Information:
Pacific Coast Commercial is pleased to announce the sale of a 2-property portfolio of eight residential units located in City Heights, a unique neighborhood in central San Diego. The buyers had a rare opportunity to close escrow on these Value-Add properties during this time of Covid 19 even with the challenges of walk-throughs and inspections.
“We have clients that want to continue to build their real estate holdings no matter what the short-term obstacles may be”, stated Vince Provenzano. “The buyers have visions to improve and increase rents, and the seller will be executing a 1031 exchange up-leg purchase. The fact that the IRS has extended the Identification period to July 15, 2020, allows us to take a breath and find the right investment”.
Contact Agents Today! (619) 469-3600
Vince Provenzano
President of Brokerage
Lic. 00780182
Robert Phillips
President/CEO
Lic. 00706262
Jan Sachs
Broker Associate, Multifamily & Investment Sales
Lic. 01964760
10721 Treena St, Suite 200 | San Diego, CA 92131
www.PacificCoastCommercial.com
Lic. 01209930
If you are currently being represented, it is not our intention to solicit clients of other Brokers.
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