Jim Neil Neil: “The community has enjoyed a competitive place in the submarket for decades due to its artful design and rich amenity package—attributes well ahead of their time for a property of this vintage.”

SAN DIEGO—The San Carlos submarket’s central location, proximity to job centers and services and predominance of lower-density housing, in addition to reduced competition, are drawing apartment buyers, CBRE SVP Jim Neil tells GlobeSt.com. Neil, along with CBRE’s Eric Comer and Merrick Matricardi, recently represented seller PUR VDF Apartments LLC in the sale of Terra at Mission Trails Apartments at 7707 Mission Gorge Rd. in San Carlos for more than $20 million to local San Diego buyer Mission Gorge Rd LP, which represented itself.

Built in 1977, the 90-unit asset underwent a major renovation in 2010 and is situated on 3.44 acres. The property features studios, one- and two-bedroom units, with an average floorplan of 671 square feet. The community has resort-style amenities, including a pool, hot tub, sauna, resident lounge, BBQ area and a new state-of-the-art fitness center.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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