• News
  • SAN DIEGO
  • Real Estate

City Heights units bought for affordable housing

The 20-unit apartment complex in City Heights at 4348 53rd St, San Diego 92115, has been sold for $2.25 million.

The buyer was the City Heights Community Development Corporation, a California non-profit public benefit corporation, 4001 El Cajon Blvd., Suite 2205, San Diego 92105, with Kenneth Grimes as the executive director.

The acquisition was financed with a $2.25 million loan from Local Initiatives Support Corp. of New York City, 4305 University Ave., Suite 420, San Diego, 92105, with Kwofi Reed as the program officer.

The seller of the property (assessor's parcel 472-040-45) was Vista International Inc., with Dominick Veliko-Shapko as the president.

The seller was represented by Brian Raynoha, of ACI Apartments. The buyer was represented by Ricardo Lopez and Keith Courtney, also of ACI. Escrow was handled by Teresa McElaney, of Chicago Title and Richard Moore, also of Chicago Title, handled title insurance.

Built in 1975, the 11,950-square-foot apartment consists of 16 one-bedroom units and four two-bedroom/one-bath units. The property will become affordable housing.

The property is located one block south of El Cajon Boulevard, between Dawson Avenue and 54th Street near the Colina del Sol Community Park.

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.