The 16-unit apartment in Pacific Beach at 3455 Del Rey St., San Diego 92109, has been sold for $2.16 million.
The buyer was Ann Rosalie Kostanzer, trustee of the Ann Rosalie Kostanzer Trust, 2345 LaFrance St., San Diego 92109. The acquisition was financed with a loan of $1,375,000 through Ann Block of JPMorgan Chase Bank (NYSE: JPM). The sellers of the property (assessor's parcel 424-362-16) were Noah L. and Susana Sy Cu.
The approximately 9,048-square-foot building consists of two two-bedroom/one-bath units and 14 one-bedroom units. The property includes on-site laundry and off-street parking. The two-story apartment was constructed in 1965 on a 12,500-square-foot lot.
The buyer was represented by Gary B. Urtiaga, senior vice president of Apartment Realty Group (ARG). The sellers were represented by Terry Broderick, of NAI San Diego. The transaction was the buyers up-leg purchase from two properties sold late in 2013 by Urtiaga.