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12/19/13
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The Villas at La Mesa, an 86-unit multifamily property in La Mesa, was purchased by LP, an entity of Property West Residential, for $12.26 mil ($142.6k/unit). The asset, located at 8515 Chloe Ave, was sold by Villa Apartment Homes LP, an entity of The Apartment Company.
Built in 1971, The Villas at La Mesa is conveniently located just off the I-8 Fwy and SR-125, providing easy access to major job centers in El Cajon and Downtown San Diego. Within walking distance of Grossmont Shopping Center and the San Diego Trolley System, the community is also close to restaurants, schools, medical facilities and the future home of Grossmont Transit Station.
The property offers one- and two-bedroom floor plans. Interior amenities include ceiling fans, central air conditioning, updated appliances and private patios or balconies. The exterior features lush, tropical landscaping, a large swimming pool, spa, on-site laundry facility and ample open and covered parking.
The CBRE Multi-Housing team of Eric Comer, Jim Neil and Merrick Matricardi represented both the buyer and the seller in the deal. Year-to-date, the team of Comer, Neil and Matricardi has represented clients in 24 investment sales, totaling $165 mil and over 1,000 units.
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