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9/20/18
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Palm Spring Apartments, a 68.2k sf, 75-unit apartment property located in La Mesa, traded hands in a recent deal for an undisclosed price. It was sold by La Jolla-based seller L&M Properties
The property is located on a 3.59-acre parcel at 4302 Palm Ave, south of I-8 and west of Hwy 125. The transit-oriented property is situated across the street from the Spring Street Trolley Station, an ideal location for transportation connectivity throughout San Diego.
Peter Scepanovic and Corey McHenry of Colliers International San Diego Region’s Multi-Family Advisory Group represented both parties in the deal.
“La Mesa is a quickly growing community, which has seen increased demand from both residents looking to move there and investors seeking properties to reposition or redevelop,” said Scepanovic. “The new ownership plans to reposition the Palm Spring Apartments, which will deliver more contemporary housing options in East County San Diego.”
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