The selling price reflects the continued strong demand for primerental properties in coastal areas of the Southland, where littlenew multifamily construction has taken place and skyrocketing houseprices have scuttled the chance for many renters to buy a home. SanDiego may be the tightest rental market of all, with a countywidevacancy rate of about 2% and many communities without a single roomavailable for lease, real estate brokers say.
R&V Management Corp. runs several partnerships thatcollectively own thousands of rental units across the Southland.Diane Miramontes of Business Real Estate Brokerage Co./NAI, SanDiego, represented R&V in the transaction. She also representedthe seller, the private Norman C. Roberts Trust of San Diego.
The two-story garden complex was built in 1986, Miramontessays.
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