San Diego-based DMJ Partners has purchased a multi-family project consisting of five buildings with 12 units for $5.5 million. The project is located at 3929-3933 Gresham St. and 3958-3966 Riviera Drive in the Crown Point neighborhood of Pacific Beach, just one block from Mission Bay with direct beach access within close proximity. The project was built in 1977 and is comprised of houses, townhomes and one and two-bedroom apartments. The units offer open floor plans with fireplaces, some water views, private garages and patios with significant onsite parking. DMJ Partners plans to complete significant renovations to the interior and exterior of the project.
DMJ Partners plans to transform the multi-family project to align with the young, professional, hip and beachy atmosphere of the neighborhood.
DMJ Partners was represented by Katie Herrick of Ascent Real Estate in the transaction and the seller was represented by Patrick J. Park of Dunn, Realtors/Park Pacific Properties. South Coast Commercial will be handling the property management of the asset for DMJ Partners.
