San Diego Business Journal

La Jolla Apartment Building Sells for $29M

Tuesday, April 9, 2013

Denver-based AIMCO Holdings LP has purchased Prospect 400, a 60-unit apartment building in La Jolla, for $29 million, according to CoStar Group.

The property at 400 Prospect St. was sold by the Carolyn M. Holmer Irrevocable Trust, represented by brokerage firm CBRE. The four-story building was built in 1970 on 0.65 acres, and renovated in 2009.

A statement from CBRE said the site was a local landmark and the former summer home of Frederick William Kellogg and his wife Florence Scripps, before being redeveloped in 1970.

-- SDBJ Staff Report