In the middle of the 4700 block of Point Loma Avenue there are eight connected units in a single-story complex. They just sold for $1.85 million. They are located at 4746-4756 Point Loma Ave.
This represents $232,500 per unit, with the price per-square-foot of $265. They are at assessor’s parcel 448-351-06.
John Douglas Dudek was the buyer. He is trustee of the Dudek Family Trust, located at 1003 Isabella Ave., Unit C, Coronado 92118, and he was able to finance the transaction with a loan of $650,000 from Opus Bank.
Bridgette J. Wilson was the seller of the property was, and is sole trustee of the David P. Wilson and Bridgette J. Wilson Revocable Family Trust.
According to the Daily Transcript:
The Point Loma property was involved in a 1031 tax deferred exchange with the 12 units at 582 Arizona St., Chula Vista 91911, for $2.6 million. The seller was John Douglas Dudek, trustee. The buyers were Jerold W. Isaac and Elizabeth A. Isaac, trustees of the Issac Family Trust, 22618 San Joaquin Drive West, Canyon Lake, CA 92587. The transaction was financed with a $1.92 million loan through C.J. Donovan, of Opus Bank of San Diego.
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Each unit selling for 1.85 million each. Todd Gloria et al are in the pocket of developers. These are give aways to developers under the guise of “affordable housing”. It gives me no joy to say “I told you so!”