JUST SOLD | 22 Multifamily Units | $5,942,000
PROPERTY ADDRESS:
150 Gosnell Way | APN: 220-320-21
195 Johnston Lane | APN: 220-181-19
366 San Marcos Blvd | APN: 220-150-10
REPRESENTATION:
Seller Representation: Pacific Coast Commercial
Broker Rep: Mack Langston, Director of Multifamily & Investment Sales
Buyer Representation: Pacific Coast Commercial
Broker Rep:Weston Card, Multifamily & Investment Sales
SALE DETAILS
Property Type: 22 Multi-Family Units and 3 Properties
Square Footage: 3 Properties Totaling ±30,256 SF
Sale Price: $5,942,000
Close of Escrow Date: 5/20/2020
Seller Name: Affirmed Housing Group
Buyer Name: F&F Naranca L.P.
Additional Property Information (See Photo Below):
Pacific Coast Commercial is pleased to announce the sale of a 3-property portfolio of twenty-two total residential units located in San Marcos. Mack Langston, the listing broker stated, “This transaction was out of the ordinary because the seller, early on in the preparation to sell, had decided to deliver the property vacant at closing. In September, the Assembly passed AB 1482 restricting rental increases and restricting evictions to “just cause” cases. Governor Newsome signed the bill on October 8, 2019 and the property went into escrow a month later.”
“In the commercial real estate space as of late, as Brokers we need to be aware of all the nuances taking place within the political arena that may affect our clients, and the rights they should have as owners of commercial real estate.” Cited Vince Provenzano, President of Brokerage at Pacific Coast Commercial. “Mack Langston and Weston Card navigated this scenario perfectly in this transaction.”
CONTACT AGENTS FOR MORE DETAILS!
Mack Langston
Director, Multifamily & Investment Sales
(619) 469-3600
Lic. 01110555
Weston Card
Multifamily & Investment Sales
(619) 469-3600
Lic. 02013338
Source: https://www.pacificcoastcommercial.com/post/just-sold-22-multifamily-units