A historic Bankers Hill apartment building has been sold for $7.8 million.
Built in 1869, the building at 509 Park Blvd. was acquired by The Palms on Park San Diego, LP.
The seller was 12th & A Hotel Partners, LP.
The 32,750 square-foot building has 78 apartments.
Peter Scepanovic and Corey McHenry of Colliers’ San Diego Multi-Family Advisory Team represented the buyer.
Will Rigley of Rigley Corp represented the seller.
“With a location in the heart of East Village, along a transit line and within walking distance to the ballpark, this property will be a strong investment,” Scepanovic said. “The new ownership plans to make interior and exterior upgrades to modernize the property.”