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8/12/21
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Northstar Homes LP bought Casa Jamacha Apartments, a 32-unit apartment complex located in Spring Valley, for $6.8 mil ($212.5k/unit). The 25.6k sf property is situated on a .94-acre lot at 8951 Jamacha Rd, north of Jamacha Blvd and east of Hwy 125. It was 100% occupied at time of sale.
Casa Jamacha Apartments, constructed in 1978, consists of nine one-bedroom/one-bath units (600 sf), 22 two-bedroom/two-bath units (800 sf) and one three-bedroom/two-bath units (940 sf). Tenants at Casa Jamacha enjoy a community pool, community laundry room and on-site parking.
Dave Savage of ACI Apartments represented the seller, CGI3 LP. Arby Eivazian, also with ACI, repped Northstar Homes.
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