Pacific Sands5550 Balboa Arms Dr. San Diego, CA 92117
Pacific Sands was purchased in the spring of 2016. The 94 unit building located in the desirable Clairemont area of San Diego was extensively renovated by the prior owner and included unique features such as roof mounted solar hot water heaters. Meter discovered this unique undervalued asset and executed a plan to complete the renovation and repositon the property.
Meter completed the final 7 unit upgrades, further enhanced the common areas and added an additional unit. Meter plans to hold the asset long term as we believe in the location, asset and fundamentals of the San Diego Market. The property was refinanced in 2017 with 90 percent of the original equity returned to investors.