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Next Space Development Buys 25 Unit Apartment Building for $14.5M

Progress Managment Company Sells The 25 On Fifth in Downtown San Diego
June 27, 2018
Progress Management Company sold the 25-unit multifamily complex at 3265-3285 5th Ave. in San Diego, CA to Next Space Development for $14.5 million, or $580,000 per unit.

The 45,280-square-foot The 25 on Fifth multifamily community consists of 23 two-bedroom and two three-bedroom units. The property is located near Balboa Park in the Bankers Hills submarket.

Dixie Hall of CBRE represented the seller. Eric Comer, Jim Neil and Merrick Matricardi of Kidder Matthews represented the buyer.

Please see CoStar COMPS #4306207 for more details on this transaction.
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