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6/26/12
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A 48-unit apartment complex in Spring Valley sold for $4.66 mil, or about $97k/unit. The property contains 32.8k sf of space and is located at 8914-8926 Delrose Ave, south of Jamacha Rd and west of Sweetwater Rd, about 10 miles east of downtown San Diego.
The garden-style apartment complex offers a mix of 22 two-bedroom and 26 one-bedroom units. The property was previously sold in October of 2005 for $4.8 mil.
Jack Nooren of NAI San Diego represented both the seller, Maxim Management, and the buyer, Twelve Management Group LLC. The financing was handled by Johnson Capital and the escrow was handled by The LoCoco Team of Chicago Title.
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