Commercial Portfolio Sold Near USD Off Morena Blvd
By: Tony Franco, Commercial Real Estate Expert
The Cushman Portfolio, located at 1221 Cushman Avenue and 5226 Cushman Place, in San Diego, CA 92110 has been sold for $1,500,000 to a buyer who paid all cash with a quick close of escrow.
The buyer was Pans Investment, LLC, a California limited liability company, c/o Ramin Yamini.
The seller of the portfolio (APN#’s: 436-330-11-00 and 436-330-12-00) was Coast United Advertising, Inc., a California corporation. In December 1995, the seller purchase the property for $575,000 with a $500,000 loan from Capital Thrift & Loan Association.
Tony Franco, President of Tony Franco Realty, Inc. – a Pacific Beach based commercial real estate company specializing in leasing, sales and property management – represented the seller of the portfolio.
The sale included 4 freestanding buildings including one mixed-use apartment & office building, one 2 bedroom / 1 bath detached house, one 2 story office building with a garage, and one single story office & dual garage building. The 4 buildings combined equals roughly 10,773 square feet and the land size between the 2 parcels of land equals roughly 20,721 square feet. The property is located 1 block from Morena Blvd and is directly across the street from a future USD.