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June 22, 2024
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Imperial Beach Multifamily Sale Works Out to $256k/Unit


Playa Blanca Apartments, a 44-unit apartment property in Imperial Beach, in Southern San Diego County, has traded hands in an $11.3 mil ($256.8k/unit) deal. The property, located at 1939, 1945 and 1949 Avenida Del Mexico, which can be converted for re-sale condominiums if desired in the future, is part of a 161-unit condominium community.

Built in 1986 and fully renovated in 2005, Playa Blanca Apartments features of mix of one- and two-bedroom apartments and offers amenities that include a fitness center, pool, spa and clubhouse. The units feature granite countertops, stainless steel appliances, vaulted ceilings, stacked washer/dryers, fireplaces, and large patios or balconies.

Playa Blanca is conveniently located near the 5 freeway and is within walking distance to a number of major retail centers. Additionally, residents of Playa Blanca are within a short drive to the beach and key entertainment venues.

Peter Hauser, Chris Maling, David Maling and Matthew Hauser with Avison Young represented the seller, a San Diego-based privately held corporation. The buyer, a San Diego-based limited liability company, was repped by John Burrows Company.

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