SAN DIEGO, CALIFORNIA (March 10, 2021) – The San Diego Investment Sales team consisting of Erik Anderson and Kyle Pinkalla, arranged the $4.1 million sale of Las Palmas Apartments. The 18-unit multifamily property is located at 3864 35th Street in San Diego, California within the North Park/Cherokee Point submarket. Anderson and Pinkalla represented the seller and sourced the buyer in the transaction as well.
“With the low amount of available inventory in the market currently, the buyer was attracted to purchasing the asset off market at a favorable basis per unit,” said Anderson. “The buyers intend to do a full interior and exterior remodel to the asset and are excited about the additional gentrification of the area.”
The property was purchased from Voltaire Street, LLC, and the buyer is undisclosed.