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Talmadge Palms units on Euclid sold

The 20-unit Talmadge Palms Apartments in Talmadge at 4480 Euclid Ave., San Diego 92115, has been sold for $3.34 million.

The buyers were Woodlark LLC, an Oregon limited liability company (60 percent), James A. and Carol A. Nicolette (11 percent) and Carla M. Payne (29 percent), 854 Grand Ave., Suite 494, San Diego 92109. The acquisition was financed by Xceed Federal Credit Union.

The seller of the property (assessor's parcel 471-122-02) was Premium Adams Housing LLC, a California limited liability company, headed by Christopher F. Fremont.

Doug Taber and James Carter, of Apartment Realty Group (ARG) negotiated the transaction.

The apartment consists of 11 two-bedroom/one-bathroom units, seven one-bedroom units, two 2 studios and an on-site laundry room. The 14,620-square-foot apartment was constructed in 1957 on an 18,369-square-foot lot that includes 10-garages

In June 2013, Premium Adams acquired the property for nearly $2.7 million, represented by Taber and Carter. Premium Adams initiated an interior and exterior rehabilitation of the property over the last 12 months.

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