DEAL OF THE DAY: Sperry Van Ness Brokers Rental Community Sale for $2.47M
- Jun 17, 2008
By Anuradha Kher, Online News EditorSan Diego–Sperry Van Ness has recently completed the sale of Balboa Palms Apartments, a 28-unit apartment community in San Diego, for $2.47 million.The property is located at 2855 – 2865 A St. near downtown San Diego. San Diego-based Cyprias Enterprises LLC Series 19 bought the two-building property that was built in 1959.Balboa Palms is situated on 0.32 acres of land and was 100 percent occupied at the close of escrow. The unit mix consists of 20 studio units and eight one-bedroom units with monthly rents ranging from $750 to $825.The property features a gated entry and landscaping and is situated in a highly desired area of Golden Hill, which is half a block from Balboa Park and is on the edge of the South Park neighborhood. The community offers easy access to the 5 and 15 freeways and State Routes 94 and 163.