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3/15/17
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A private investor has purchased the 75-unit Ha’ Penny Inn in El Cajon for $5.63 mil, or $75k/unit. The plans to convert the 35.7k sf asset, located at 1549 E. Main St, into a multifamily property.
Peter Scepanovic and Corey McHenry of Colliers International San Diego Region’s Multi-Family Advisory Group represented Macphersonite 1031 LLC, the San Francisco-based buyer. The San Diego-based seller was Ha Penny Inn LLC.
“This property’s extended stay-style units and proximity to the heart of downtown El Cajon created a unique value-add and multi-family conversion opportunity,” noted Scepanovic.
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