Stew Weston And Rosie Cooper Of Matthews Represent Seller In $30M San Diego Multifamily Sale

The property involved in the transaction is a 144-unit multifamily asset located at 220 47th Street in San Diego. The transaction was executed at a sale price of $30,000,000, which translates to a price per unit of $208,333. The asset includes features such as $2.5M in upgrades and the potential for accessory dwelling units (ADU) in a transit-adjacent location.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Units: 144
• Price Per Unit: $208,333
• Address: 220 47th Street
• Market: San Diego
• Brokers: Stew Weston & Rosie Cooper - Matthews

The deal was representative of ongoing trends in the San Diego real estate market, with Stew Weston and Rosie Cooper acting as the representatives for the seller. The asset was sold to a 1031 exchange buyer within a 37-day timeframe, underlining the swift demand for workforce housing in the area.