San Diego Business Journal

SOLD – Pacific Palms Apartments

San Diego, CA November 7, 2022 -Income Property Advisors, Inc. announces the recent sale of Pacific Palms Apartments 5109-5139 Clairemont Mesa Blvd 92117 for $16,872,500.00. Capital Growth Properties, Greg Wagner as lead broker represented the seller and Robert MacGuire, Principal and Broker of Income Property Advisors represented the buyer. The property, built in 1963 and remodeled in 2021 is situated on 0.84 +/- acres along Clairemont Mesa Boulevard and is comprised of 32 Studio Units, 31 one-bedroom units and one 2-bedroom 1 bath unit for a total of 64 units. Amenities include common area pools, onsite laundry facilities, 32 off street parking spaces and is fully gated with secure access. Pacific Palms was owned by a regional investment group that purchased and repositioned the property.

With numerous upgrades, including new paint, roofs and upgraded unit remodels. The buyer is a San Francisco investor who was completing a 1031 Exchange. Income property Advisors will manage the property for the buyer.

As a leading broker and Property management firm of commercial real estate in San Diego County.

Income Property Advisors, Inc. is pleased to provide investment, management, and brokerage services to San Diego County Real Estate Investors.

For additional information, visit www.Ipasd.com or contact: Robert G MacGuire Income Property Advisors, Inc. Bob@ipasd.com • 858-279-1500 • IPASD.com

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2022-11-28T08:00:00.0000000Z

2022-11-28T08:00:00.0000000Z

https://sdbusinessjournal.pressreader.com/article/282419878263535

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