X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LA MESA, CA-A firm based in the South Bay of Los Angeles County has bought an apartment community in this San Diego suburb in a deal valued at $7.1 million. RK Properties, located in Long Beach, bought the Casa de Colina Apartments, located at 8515 Chloe Ave.

In keeping with the strong multifamily market throughout the county, the deal penciled out to an impressive $82,558 per unit, with a price per sf of $111 for 64,020 sf of net rentable space. La Mesa and the greater San Diego area have experienced a run-up in both values and rents over the last two years.

The complex is about 30 years old. It includes standard amenities such as a recreation room, pool with spa and laundry facilities. It has 68 one-bedroom and 18 two-bedroom units.

The seller, Colina Partners, a limited-liability partnership, was represented by Philip Buckley of CB Richard Ellis’ Central San Diego office.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.