San Diego, CA –March 5, 2024 - Lee & Associates - NSDC is excited to announce the sale of 5052 Wightman Street, a 44-unit multifamily investment property located in San Diego.

 

The Von Bluecher Group – the Multifamily brokerage team of Lee & Associates North San Diego County, Eric von Bluecher and Ivan Del Muro-Garcia brokered the sale of 44 units in the City Heights/Colina Del Sol neighborhood of San Diego, representing both the Buyer and Seller. Built in 1963, the 44-unit apartment building was held by the same owners for multiple decades, had deferred maintenance and an affordable 50-60% AMI component until 2054. The Lee & Associates Multifamily Group executed a full marketing strategy, resulting in the generation of nine offers from both principals and brokers. The transaction closed at $7,125,000, just above the asking price, which was roughly a 4.31% cap on actual income and expenses.