Sold: 7-Unit Complex on Hamilton Street in North Park

Below is a press release from May 20, 2014:

Just Sold – 7 Units in North Park for $1,495,000

May 20, 2014 – SAN DIEGO — The Hamilton St. Apartments have been sold for $1,495,000. Located at 4562 Hamilton St. San Diego, CA 92116 in the burgeoning North Park/University Heights submarket of Central San Diego. This 7-unit apartment complex, constructed in 1980, offers tenants on-site parking, covered parking, storage lockers, and communal laundry room. All units have been recently upgraded with new paint, new appliances, and new flooring. The Hamilton St. Apartments have an average unit size of approximately 777sf and consist of six (6) 2 Bedroom / 1Bath units and (1) 2 Bedroom / 1.5 Bath unit. The apartment building consisting of 5,438 rentable square feet is located on a 7,000 sf lot. The property has been sold for $213,571 per unit and $274.91 per square foot. The value indicators at time of sale were: Gross Rent Multiplier = 13.4 and CAP Rate = 4.8%. The property was 100% occupied at time of sale. The seller was TSF Properties. The buyers, Kevin and Michelle Lyons, were represented by Mark Morgan of ACI Apartments.

For more information, please contact Mark Morgan at (619) 300-9070,

Since 1982, Apartment Consultants Inc. (ACI) has been helping investors build wealth through innovative, proven apartment investing strategies. In the last two decades, ACI has closed more San Diego County income property escrows than any other firm. Visit us online at: