The eight-unit complex, known as Idaho, has been acquired by Josh Brown & Associates LP of San Diego. The buyer has shelled out $1 million for the asset, which is located at 4568 Idaho St. in San Diego. Built in 1966, the property features new paint and a carport.
In the recent transaction, the buyer was represented by ACI Commercial. Chad Bramwell of the San Diego office of Hendricks & Partners acted on behalf of the sellers, Alvin E. Sunday and Ruth E. Sunday of La Mesa.
Investors continue to buy up multifamily assets in San Diego, as the city continues to experience increases in both apartment rents and occupancy levels. According to a recent report by RealFacts, the San Diego multifamily sector has experienced a 1% rise in rental rates over the past quarter, as well as a 2.6% jump in occupancy levels.
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