SAN DIEGO, CA-An LLC has paid $125,000 per unit for a 17-year-old San Diego apartment complex, as investor demand continues to drive up prices here.

The multifamily property, which stands at 4034 Florida St., consists of seven two-bedroom, two-bath units with fireplaces. The buyer, Florida Partners LLC, has shelled out $875,000 for the complex, which was constructed in 1985.

Chuck Weinberger of Award Commercial Properties brokered the transaction, which marks the latest in a string of multifamily deals to close in San Diego County. Investor demand continues to drive the sales market here, as a recent report by RealFacts says that institutional investors are turning to the San Diego market “as a safe haven for their capital,” with private investors following suit. The report adds that “the combination of low vacancies and steadily rising rents make the San Diego area very attractive to real estate investors.”

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