Another apartment complex in Ocean Beach has been sold. A 12-unit complex at 4878-4882 Saratoga Ave just exchanged hands earlier this month for $3.3 million cash.
It joins a recent rash of apartment sell-offs that have hit OB over the last months and years, particularly in northwest OB. Here’s what we wrote in April:
According to a review of OB Rag records, there’s been an unprecedented sell-off of apartments in Ocean Beach over the last 4 years. This has included the transfer of nearly $38 millions and involving nearly 160 units.
Since the summer of 2011, there’s been nearly 20 of these transactions – the sale and purchase of multiple-unit properties in the OB village. There’s been at least ten since January 2014 and 3 this year already.
In this case, the 2-story apartment, constructed on a 10,498-square-foot lot (448-311-02), includes a relatively small interior courtyard and tandem parking in front for 10 vehicles and alley parking for another half dozen or so.
Buyers: Roberto P. Walz and Minerva Walz – trustees of the Walz Family Trust, with addresses at 9252 Chesapeake Drive, Suite 200, San Diego 92123. San Diego Daily Transcript reports that these buyers are “active investors in apartment properties across San Diego County.”
Sellers: Robert M. Young – trustee of the Robert Marshall Young and Eileen Young Family Trust (50 percent) and Fred J. and Annaliza D. Young (50 percent).
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