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6/18/20
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GLC Legacy Trust paid $16.3 mil for Tribecca on Mollison, a 68-unit ($239.7k/unit) complex located in the El Cajon area of San Diego. The 57k sf property sits on on 2.84 acres at 520 S. Mollison, south of I-8 and west of Jamacha Rd.
Tribecca on Mollison consists of 24 one-bedroom /one-bath units, 33 two-bedroom / two-bath units and 11 three-bedroom / two-bath units. Tribecca is located just minutes from downtown San Diego and Balboa Park.
The property was 100% occupied at time of sale. It features a gated entrance, pool, gym, clubhouse, BBQ and picnic area, gated ample on-site parking and a spacious laundry room.
All 68 of the units have substantially upgraded kitchens, baths, appliances, paint, and flooring. 56 of the units have in-unit washers & dryers. This property has the opportunity for increased rents.
Dave Savage of ACI Apartments represented the buyer and the seller, The Johnson Trust.
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