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Apartment Complex on Evergreen Avenue Sells for $725K

Patch file photo.
Patch file photo.

The four-unit apartment complex at 217-223 Evergreen Ave. in Imperial Beach sold for $725,000.

The buyer was Karen Sue Hoyt, c/o Hoyt Law Firm, of El Cajon, according to The Daily Transcript.

The newspaper reported that the seller was Evergreen Avenue LLC.

The property last sold in April 1989 for $230,000, it reported.

Jon Hall June 07, 2014 at 02:20 PM
Four Income Units plus property within spitting distance of the Pacific Ocean for only $750K --- nope, nothing wrong with the economy in America ...
Mark June 08, 2014 at 09:26 AM
Jon - you're right! Very low price for that property. Some clown CALLED me about my home the other day. I was offended he called, then I told him 1.5mil. Because that is what it would cost me to replace it with an equivalent property. The real estate market is heating up again in Imperial Beach. I just hope it does not get too hot too fast. I would expect the rents on some properties to increased as the properties are sold. My advice to tenants, you can afford to go buy something, go buy it do not wait.

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