San Diego – August 30th, 2021 – CBRE has announced the sale of Golden Vista Apartments, a 24-unit multifamily community in the Golden Hill neighborhood of San Diego, to an undisclosed buyer for $7.5 million.
John Newton of CBRE represented the buyer in the transaction and sourced the opportunity off-market. The seller, Susan and Morton La Pittus Trust, was represented by an outside firm.
Located at 2420 B Street, Golden Vista Apartments was originally constructed in 1968. The unit mix is comprised of one- and two-bedroom apartments. The asset is two blocks from Balboa Park and approximately one mile from Downtown San Diego.
“Golden Hill is one of San Diego’s trendiest urban neighborhoods where value-add opportunities are highly sought after,” said Mr. Newton. “This acquisition is further indication of institutional investors’ appetite for well-located assets in San Diego’s metro area around Balboa Park.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
