HFF Announces the $4.4M Sale of 8-unit Apartment Community in San Diego’s La Jolla submarket

05 December 2018

SAN DIEGO, CA – December 5, 2018 – HFF announces the $4.4 million sale of 326-340 Palomar Avenue, an eight-unit, garden-style apartment community in La Jolla, California.

The HFF team represented the buyer, a private investor who purchased the asset as part of a 1031 exchange. The investor’s legal representation was provided by the law offices of J. Geoffrey Barry, Esq.

326-340 Palomar Avenue is located in the prestigious La Jolla neighborhood, just off La Jolla Boulevard near Bird Rock and Windansea Beach and less than 15 miles north of San Diego’s CBD via Interstate 5.  Originally built in 1965, the property features exclusively two-bedroom units averaging 850 square feet.  326-340 Palomar was 100 percent occupied at closing. 

The HFF investment advisory team representing the buyer consisted of senior director Hunter Combs and senior associate Trent Jemmett.