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7/08/19
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Casa Del Sol Apartments, a 20-unit multifamily complex located in the East County area of San Diego, traded hands for $3.68 mil, or $184k/unit. The 15.4k sf property is located at 922 S. Sunshine Ave, off I-8 in El Cajon.
The unit mix at Casa Del Sol Apartments consists of one studio, eight one-bedroom/one-bath units, three two-bedroom/one-bath units and eight two-bedroom/1.5-bath units. Four of the units have upgraded kitchens, baths, paint, and flooring. This property has the opportunity for increased rents. The property sits on a 0.8-acre lot located just 20 minutes from downtown San Diego and Balboa Park.
The property was 100% occupied at time of sale. Amenities include a community pool, balconies or patios, ample on-site parking, and an on-site laundry room.
The property was purchased by 1 Hunter 1 Lake LLC, who intends to substantially upgrade the asset. The buyer was represented by Arjay Smith of West Harbor Real Estate Investments. The property was officially marketed for sale for approximately 35 days. Dave Savage of ACI Apartments represented CGI 3 LP, the seller.
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