PERSONAL TRUST INVESTOR FINDS VALUE IN VISTA MULTIFAMILY
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.