San Diego recently saw another multifamily property trade hands. According to a closing announcement from South Coast Commercial Inc., the six-story Contour Lofts sold for $20.7 million, or about $747,222 per unit. The property was acquired by an entity linked to Contour Lofts LLC from the project’s developer InDev LLC, which was represented by Brendan Flynn of South Coast Commercial in the deal.
The property is located at 2120 Columbia St. and consists of 27 residential units as well as an office space on the top floor. Constructed in 2019, the property features a mix of studio, one- and two-bedroom apartments.
Contour Lofts is situated within San Diego’s Little Italy neighborhood and is within walking distance of a number of retail and dining amenities. The property is also close to Interstate 5.
“Nestled in the back of this project is a tranquil, yet unhampered courtyard enriched by large planters, inviting the tenants to a private escape. Contour’s composition and scale are brought down to the human element and create a dynamic balance of residential and office spaces. In terms of proportion and scale, the future residents and tenants will be able to enter Contour through an enticing entrance that draws your eye from the charred cypress on the exterior to the soft warm colored cypress lining the interior of the entrance,” states a landing page for the Contour Lofts on InDev’s website.
InDev LLC is a private San Diego-based investment and development firm with a number of properties situated throughout the city. According to its website, the firm’s portfolio spans Golden Hill, University Heights, Point Loma, North Park, Mission Hills, Little Italy, La Mesa and Hillcrest.
