Private investors Emile and Ursula Misiraca of La Mesa have paid$82,500 per unit for the complex, known as West Drive. Located at1924 West Dr., it consists of nine studio apartments and athree-bedroom house. The house dates back to the 1960s, while thestudio units were constructed in the late 1980s, according toPamela Ruegg of Hendricks & Partners.

Ruegg, who is based in San Diego and brokered the transactionalong with colleague Andrew Shih, who works in the firm's Austinoffice. West Drive's amenities include on-site laundry facilities,12 garages and several private yards, Ruegg says. The property was100% occupied at the time of sale.

"I felt that the price we achieved was fantastic," Ruegg She explains that West Drive had some mold issues thatwere eventually cleared up, but did make it difficult to get theproperty insured. Although insurance was secured, the combinationof the previous mold problems and studio floorplans might haveposed a hard sell for some. However, Hendricks & Partners "gotthe property out there," she says, adding that West Drive was onlyon the market a month before it was under contract.

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