Carlsbad Apartments Sell For $9 Mil

CARLSBAD-Northern California-based entity has bought another multi-family property in the north county. The 72-unit complex, at 357 Chestnut St., sold for $9.04 million.

On the market for less than a week, the Carlsbad Coast Apartments complex was purchased by G. W. Williams Co. of San Mateo. Carlsbad Coast Apartment LLC sold the property.

Washington Mutual’s San Francisco office provided a new first-trust deed and a $6.3 million note for the transaction.

“This is the premier property west of the railway in Carlsbad,” says Diane Miramontes of Business Real Estate Brokerage Co., which represented both buyer and seller.

The apartment complex, constructed in 1972, was fully renovated last year. The property lies less than two blocks from Carlsbad State Beach and consists of 10 studios, 18 one-bedroom units and 44 two-bedroom/two bath units.