Whitewater Commercial Real Estate, a San Diego-based commercial real estate brokerage specializing in multifamily, arranged the sale of 3013 C St., a value-add complex in Golden Hill. The property sold for $5,337,276.
Cole Silverman, Connor Stolle and Carson Trujillo of Whitewater represented the seller, Stephanie Ranum, and the buyer, Pfeiffer Properties, LLC.
“Golden Hill continues to be one of San Diego’s most desirable urban rental markets, driven by its central location, strong renter demand, and proximity to Downtown, Balboa Park, and surrounding neighborhoods,” said Silverman. “Town Pines offered the buyer an opportunity to acquire a well-located multifamily asset with strong existing fundamentals and meaningful long-term value-add potential.”
The 22-unit property was built in 1985 and features a mix of one- and two-bedroom apartments, 33 secure ground-level gated parking spaces, and onsite laundry. It was acquired by a 1031 exchange buyer and offers additional upside through below-market in-place rents and strategic interior renovations.
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