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7/27/17
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CVG Properties Inc paid $13 mil for Carlton Heights Villas, a 70-unit ($185.7k/unit) multifamily complex in Santee.
The property, located at 9705 Carlton Hills Blvd, north of Hwy 52, was 96% occupied at the time of sale.
Built in 1979, the property offers one-bedroom and two-bedroom floor plans. Each unit features mirrored closet doors, modern two-tone paint, refrigerator, dishwasher, garbage disposal, upgraded designer faucets and light fixtures, air conditioning, ceiling fans, private balconies and patios*, spacious pantries*, and hardwood-style flooring in kitchen, dining room, and baths*, walk-in closets* (*in select units). Community amenities include a state-of-the-art fitness center with cable TV, swimming pool and Jacuzzi with a resort-style cabana, barbecues, community clubhouse, covered and assigned parking with extra storage, and two modern laundry facilities.
Kyle Pinkalla and Ed Rosen with Berkadia represented the seller, Carlton Heights Villas LLC, an affiliate of locally based Sentre Partners.
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