• News
  • SAN DIEGO
  • Real Estate

Apartment in University Heights on Madison sold

The nine-unit apartment in University Heights at 2605 Madison Ave. in San Diego 92116, has been sold for $1.67 million.

The buyers were George E. Perkins and Karen Perkins, trustees of the Perkins Family Trust, 1666 Garnet Ave., Suite 210, San Diego 92109.

The acquisition was financed with a loan of $850,000 from Malaga Bank.

The seller of the property (assessor's parcel 445-171-01) was Dimi Group LLC, with Steven J. Lizanich as the manager.

Tom McCartin and Brian Barnard, investment specialists in Marcus & Millichap's San Diego office, represented the seller. The buyers were secured and represented by Allen Chitayat of Hendricks-Berkadia, according to John Vorsheck, regional manager of M&M’s San Diego office.

The apartment was constructed in 1969 on a 6,996-square-foot corner lot. The complex consists of four one-bedroom units, three two-bedroom/one-bath units and two two-bedroom/two-bath units totaling 6,513 rentable square feet.

There is off-street parking for 14 vehicles, including covered parking spaces for the one-bedroom units and tandem parking spaces for the two-bedrooms.

The property was sold for $1.2 million in mid-2012 and for $115,000 with financing of $91,000 in June 1977.

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

User Response
0 UserComments

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

Subscribe Today!