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Apartment in North Park on Iowa sold

The four-unit apartment in North Park at 4366-4372 Iowa St., San Diego, 92104, has been sold for $777,000, cash, or $194,250 per unit.

The buyer was 436 West LLC, c/o Frank Femicola, 1380 Garnet St., San Diego 92109.

The seller of the property (assessor's parcel 446-181-23) was Forbes Realty Union LLC, with Michael Forbes, Emily Davis, Bonnie Wittenstein and Thomas Forbes as members.

The seller was represented by Dylan E. Wright, senior investment associate at ACRE Investment Real Estate Services, and Chris J. Robinson, senior vice president/principal, also at ACRE. The buyer represented himself.

Escrow services were provided by Joyce Gray and Sabrena Blake, of Chicago Title. Cameron Aldrich, also of Chicago Title, provided title insurance.

The buildings were constructed in 1945 on a 6,996-square-foot lot and totals 2,336 rentable square feet.

The property consists of three one-bedroom cottages of 528 square-feet each, one two-bedroom/one-bath apartment at 752 square feet, and five single garages.

The property sold at a current cap rate of 4.86 and a GRM of 14.97.

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