Eureka LLC, which lists Steve and Brad Murry as its principals, has acquired the property from Encinitas-based Laubro No. 3 LLC. Located at 3334 Eureka St., the asset contains 14 units.
Both Laubro No. 3 LLC and Eureka LLC were represented by Dick Basset of the San Diego office of Hendricks & Partners.
Although apartment vacancy levels in San Diego County are on the decline, investment activity continues to be red hot. According to research released by multifamily data provider RealFacts, the average apartment rate here slipped from 96.1% in September of 2002 to 95.4% in December. However, the report also points out that "brokers in the San Diego market area say they are experiencing a high level of investor interest," which RealFacts attributes to the area's "great track record."
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