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2/17/26
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Lakeshore Villa Apartments, a 126-unit senior affordable community in San Diego, traded hands in a $47 mil ($373k/unit) transaction. The asset, located at 6888 Golfcrest Dr, was sold by Arka Properties and Black Equities.
Lakeshore Villa Apartments benefits from a 100% Senior HUD HAP Contract, ensuring stable income and long-term occupancy. The buyer plans to invest significant capital into the property and has committed to extending the affordability of the asset ensuring the preservation of affordable housing for seniors to this local market.
Lakeshore Villa Apartments is ideally located in San Carlos, a quiet, peaceful San Diego neighborhood suitable for its residents who are 62+ year old. The community consists of two, three-story buildings, exclusively offering one-bedroom, one-bathroom floorplans with an average unit size of 520 sf.
TMG’s team of Executive Vice President Otto Ozen, Vice President of Affordable Housing Shawn Bolour, and Vice President Jordan Pakzad represented the seller in the deal.
“In California, there are only 456 100-unit plus Project Based Section 8 properties, a small fraction of which are designated for seniors,” said Bolour. “We knew we were bringing a rare gem to market, and the resulting bidding war across a diverse buyer pool confirmed it.”
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