The property, known as Chamberlain, was 100% occupied at the time of sale. Built in 1983, the complex features laundry facilities and carports, according to Casey Haeling, a Hendricks & Partners broker who worked on the deal. The asset is located at 653-681 Chamberlain Ave. in El Cajon, a city that "has potential for condo conversions," Haeling tells GlobeSt.com. It was this conversion possibility that primarily interested San Diego-based buyers Juan and Amelia Bustamonte in the Chamberlain property, Haeling adds.
Haeling, along with his Hendricks & Partners colleague Steve Huffman, negotiated the transaction. Both brokers are based in the firm's San Diego office.
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