4334-40 49th St. San Diego, CA 92115

Summary

City Heights – A nine (9) unit apartment property at 4334-40 49th Street, in central San Diego, has sold for Two Million Seven Hundred and Fifty Thousand Dollars ($2,750,000.). This property is comprised of: one (1) one-bedroom/one-bathroom unit; eight (8) two-bedroom/one-bathroom units, and has twelve off-street parking spaces (many of which are tandem or covered), as well as a common area laundry room.

After about a five-year holding period, seller desired to complete a 1031 exchange, with several key targeted sub-markets in mind, using 4334-40 49th Street as the ‘down-leg’.  Scott Edelstein of Palma Commercial had the exclusive listing to market and sell this property, which was openly marketed for around two months before the 1031 exchange buyer was secured.