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Apartment in Spring Valley on Cordoba sold

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.

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