Palma Commercial secured the exclusive right to market and sell this wonderfully located apartment property in Pacific Beach, within walking distance to the beach, Crystal Pier, trendy shops, dining and nightlife. The two-story property has a balanced unit mix of four (4) 1br/1ba units and three (3) 2br units. There are four garage spaces and three surface off-street parking spaces, as well as an on-site laundry room.

Palma agents Joseph Burrough and Caitlyn deWit earned the honor and pleasure of representing First American Trust Co., in its role as Fiduciary and Trustee of the Oreen Dorman and Sylvia Dorman Trusts. Palma competed hard to earn this highly sought-after listing, ultimately achieving the highest percentage above the fiduciary list price, compared to several regional, national, and multi-national brokerages who were awarded the listings to sell three other similar properties within this same portfolio. All four of these properties had been held for over five decades by the same longtime Pacific Beach-based family. Escrow closed within thirty days of receiving the executed representation agreement.

Agent(s) Involved: Joseph Burrough; Caitlyn de Wit
Agency/Representation: Seller and Buyer (Dual)

Transaction Details

Status: Closed
COE Date: 6/8/2022
Price: $3,300,000
Units: 7
Year Built: 1968
Bldg. Size: 5,028 SF
Lot Size: 6,335 SF
Price/Unit: $471,429
Price/SF of RBA: $656
Price/SF of GLA: $521