A mixed-use complex in Coronado has been acquired with plans to redevelop it as townhomes. The investors plan to build 10 townhomes on the site that will sell for an average price of $2.5 million. Construction is expected to start in February 2022.
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.
A Fallbrook apartment complex has been sold for $4.8 million. The complex at 302-338 E. Fallbrook St., has 28 one-bathroom, one bedroom apartments and one single family home.
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A downtown San Diego single room occupancy (SRO) hotel has been sold for $7.1 million.
Jasmine Inn Apartments, 1323-1335 J St., in East Village was acquired by M&M Opp Z.
The sellers were Workman Hotel Ltd, J14 Trade LLC, and J Street Trade, LLC.
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Higher mortgage interest rates will push more people into the San Diego County rental market and likely increase rents, said a new report from Marcus & Millichap.
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Kuhio Partnership of Temecula has purchased a 17-unit apartment property in Carlsbad for $4.1 million, according to brokerage firm Marcus & Millichap.
La Costa Meadows Apt LLC of Carlsbad has acquired a 12-unit apartment property in that city for $4.1 million, according to brokerage company Marcus & Millichap.
The six-unit Monroe Villa apartment complex in University Heights at 2875 Monroe Ave., San Diego, has been sold for $1.37 million, cash.
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Investor Yuan Shen of San Diego has acquired a 32-unit Pacific Beach apartment property for approximately $7.8 million, according to brokerage company South Coast Commercial Inc.
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