A large, 20-unit apartment complex at 4843-4851 Niagara Avenue has just been sold. Listed as a “garden-style” apartment, the massive spread sold for $3 millions, or about $150K per unit. Located in the middle of the block, it’s only two blocks from Sunset Cliffs and the ocean.
The complex consists of 3 two-story buildings, which are large rectangles that include a total of 11,640-square-feet in the twenty one-bedroom apartments. Although called by realtors and others in the business as “garden-style”, we really cannot see anything “garden-like” about the rather bland, concretized area that makes up the grounds of the complex. There are a number of trees inserted between two of the buildings, but there is so much cement everywhere, that it really is a joke to describe the complex as anything having to do with a “garden”.
The Helen Franklin Trust sold what is called a multifamily complex – but with every unit a single-bedroom, how many “families” can actually live in it. This is the type of constructed apartment complex in the late Sixties, huge, massive, ugly, with all kinds of curb cuts – that spurred on the development of construction and building guidelines for Ocean Beach, that resulted in an updated OB Precise Plan and the constituting of the OB Planning Board.
Vince Provenzano and Shirley Kanamu of Pacific Coast Commercial represented the seller. Tommy Williams of Century 21 Advantage represented the buyer in the sale.