June 3, 2015 – SAN DIEGO — The 8 unit apartment building located at 1847 Missouri Street in Pacific Beach has been sold for $2,300,000. The property sits on a 6,250 square foot lot and consists of 1- 2/2 unit;2-2/1 units and 5-1/1 units. The property has on site laundry, 4 single car garages, security gating, patios, fireplaces, balconies, solar heating system and highly upgraded interiors. The property was constructed in 1973 by Ray Huffman and had been cosmetically renovated over the past year by the previous owner. The seller of the property was the Kostanzer Trust, Ann R. Kostanzer, Trustee. The buyer was the Wyman Trust, Jeff B. Wyman, Trustee.
The buyer assumed a private first trust deed in the amount of $1,570,000 and purchased the property through an ‘installment sale”. Annmarie Lococo of Chicago escrow handle the escrow services and Toby Macfarlane of Advantage Tile handled the Title services.
Gary B. Urtiaga, Senior Vice President and Gabe Candea, Senior Associate of Apartment Realty Group (ARG) brokered the transaction for both parties. This is the 3rd “Installment Sale” accomplished in Pacific Beach over the past year by this team.
For more information, please contact us at (619) 804-9140 | GBU@Cox.net | www.ApartmentRealtyGroup.com
Apartment Realty Group (ARG) is strategically focused on multi-family investments and has a proven track-record of value-added brokerage services. ARG has been able to provide sellers with specialized strategies to maximize property values by creating competition for each marketing assignment as well as providing buyers and 1031 exchange clients with sound investment options which are not generally available in the marketplace. Visit us online at: www.ApartmentRealtyGroup.com