The six-unit Cordoba Street Apartments, at 3636 Cordoba St., Spring Valley 91977, has been sold for $805,000, or $134,166 per unit.
The buyers were Kaveh Haghighi and Mandana Pahlavan, 10286 Walnutdale St., San Diego 92131.
The acquisition was financed with a loan of $563,500 from First Republic Bank (NYSE: FRC).
The seller of the property (assessor's parcel 501-247-09) was John Curtis Hardick.
The buyer and seller were represented by Craig Stewart, senior vice
president/principal, of ACRE Investment Real Estate Services.
Escrow services were provided by Annemarie Lococo, of Chicago Title. Cameron Aldrich, also at Chicago Title, provided title insurance.
The apartment was constructed in 1982 on a 10,018-square-foot lot and consists of a pair of two-bedroom/two-bathroom units and four two-bed/2.5-bath townhome units totaling 7,300 square feet.
The units feature fireplaces, washer and dryers, and private patios.
The property featured six single-car garages and six additional off-street parking spaces.
The property sold at a 4.89 percent Cap Rate, 13.5 GRM, and at $110.27/square-foot.
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.
All contents herein copyright San Diego Source ® 1994-2016