The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
September 23, 2023
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



FINANCING NEWS
Printer-friendly Version   Email an Associate
El Cajon Apartment Portfolio Trades in $16 Mil Deal

3/02/23

A three-property, 61-unit multifamily portfolio in El Cajon traded for $16.17 mil ($265k/unit). The sale consisted of the following properties:

Sunshine Manor - located at 948 South Sunshine Ave, the Class C property (built in 1977) consists of 19-units and totals 16.7k sf

Sunshine Villas - located at 966 South Sunshine Ave, the 19-unit property was built in 1978. The two-story apartment building contains 15.5k sf of space. Community features include private balcony/patio, on-site management, on-site laundry facilities, outdoor pool, and off-street parking

East Winds is located at 1018 East Lexington Ave, providing easy access to Downtown San Diego and its many attractions. The 23-unit/15.5k sf gated property is situated in an active and walkable neighborhood of El Cajon. Amenities include a private balcony/patio, walk-in closets, high speed internet, grill, picnic area, courtyard, on-site laundry facilities, on-site maintenance, and door-to-door trash pickup

Erik Anderson of Northmarq represented the buyer and the California-based seller, El Cajon Investor 1 & 2 LLC. Conor Freeman, Wyatt Campbell and Aaron Beck, also with Northmarq, arranged acquisition financing for the undisclosed buyer through First Republic Bank, securing an $8.88 million permanent-fixed loan. The bank execution was structured on a seven-year term with two years interest-only.






Return to the Archive page


 
 
 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2023 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media