The Bove Group

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PERSONAL TRUST INVESTOR FINDS VALUE IN VISTA MULTIFAMILY

By Lisa Brown

Connect California


June 18, 2021

Civic Park Apartments, a 31-unit multifamily property in Vista, CA recently sold for $7.65 million. The buyer was an individual/personal trust.

Aaron Bove, senior vice president investments in Marcus & Millichap’s San Diego office, and Tyler Leeson, senior managing director in Marcus & Millichap’s Newport Beach office, had the exclusive listing to market the property on behalf of the seller, Civic Park Apartments LLC. The buyer was also procured by Bove and Leeson.

“In a collaborative effort between the Newport Beach and the San Diego office, we were able to create a regional marketing campaign that allowed us to source multiple offers across Southern California with favorable terms for seller while still achieving a closing price above list,” stated Bove.

Situated on a 1.13-acre lot, Civic Park Apartments offers a unit mix consisting of nine one-bedroom units and 22 two-bedroom units.