Continued Sell-Off of Keen Family Trusts Ocean Beach Properties: 6 Unit Apartment on 5000 Block of Cape May Sold for $1.2 Million

by on March 5, 2014 · 1 comment

in Economy, Ocean Beach

OB Cape May 5026 02+

5026-5032 Cape May Ave

The OB Rag has been following the recent sell-off of their Ocean Beach properties originally owned by the Keen family trusts.  In a clear sign that this trend continues, more property was just sold on the 5000 block of Cape May Avenue.

Six units at 5026-5032 Cape May Ave. were sold for $1.2 million, cash, to the Mills Family Trust, with Marcie L. Matassa trustee.   Selling it was U.S. Bank, successor trustee of the Keen Family Declaration of Trust No. One.

OB Cape May 5026+

Aerial view of property.

Totaling 2,512 square feet, the apartments include six bedrooms and six bathrooms, with the complex having 4 detached one-bedroom cottages and 2 one-bedroom apartments.  They stand on a large lot, 7,000 square feet.

The same property brought $950,000 cash when it was last sold in November 2010.  From San Diego Daily Transcript (subscription)

Other recent sales of property originally owned by Keen Family Trust:

{ 1 comment… read it below or add one }

avatar john eisenhart March 7, 2014 at 10:24 am

Classic courtyard apartments……OB historic designation worthy!

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