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MULTIFAMILY NEWS
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Investor Makes $20 Mil Purchase of San Diego-Area Res Community

1/09/17

Terra at Mission Trails Apartments, a 90-unit residential property in San Diego’s Mission Valley area, traded hands in a $20 mil ($222k/unit) transaction. The community is situated on 3.44 acres at 7707 Mission Gorge Rd, north of I-8 and east of I-15.

Built in 1977, the property underwent a major renovation in 2010. It features studios, one- and two-bedroom units, with an average floorplan of 671 sf. The community has resort-style amenities, including a pool, hot tub, sauna, resident lounge, BBQ area and a new state of the art fitness center.

Terra at Mission Trails Apartments is located in the residential neighborhood of San Carlos, five miles east of Mission Valley’s shopping, dining and entertainment destinations. Mission Trails Regional Park is a half-mile away, with hiking, biking and other numerous outdoor activities. The property has excellent drive-by visibility along Mission Gorge Road and residents are centrally located near major employment centers of Mission Valley and Kearny Mesa.

Jim Neil, Eric Comer, and Merrick Matricardi with CBRE represented the seller, PUR VDF Apartments LLC. The local San Diego buyer, Mission Gorge Rd LP, repped themselves in the deal.





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