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Escondido Multifamily Project Sells for $25 Mil

5/04/22

City Plaza, a newly built, 56-unit multifamily property in Escondido, sold for $25 mil, or $446.4k/unit. The four-story, 63.7k sf project is located at 300-330 South Escondido Blvd.

City Plaza, built in 2018, is located just blocks from vibrant downtown Escondido and is positioned along the I-78 Corridor in North San Diego County with an abundance of employment, universities, and other amenities. The property features a mixture of one-bedroom and two-bedroom units, ground-floor commercial space, and 126 subterranean parking spaces.

Ideal for Southern California walkability, the property offers proximity to public transit, restaurants, schools, parks, and retail, including big box names such as Target, TJ Maxx, Ross, and Regal Cinemas. Escondido is rapidly becoming the city of choice for locals and newcomers, one of the few remaining San Diego neighborhoods accessible to all income levels.

Peter Scepanovic and Corey McHenry with Colliers represented the buyer, Providence City Plaza Apartments II LLC. The asset was sold by Escondido Apartments Investment LLC.




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