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EL CAJON, CA-A 28-unit apartment complex in El Cajon has been acquired for $2.8 million by a pair of Alpine, CA-based trustees.

The multifamily asset, known as Mollison El Dorado, stands at 390 S. Mollison Ave. It houses a total of 28 units.

Pamela Ruegg of the San Diego office of Hendricks & Partners acted on behalf of the buyers, Ronald L. Styn and Susan C. Styn, who are trustees of The Styn Family Trust. Ruegg also represented the seller, The Hillgren Family Trust of Rancho Santa Fe, CA.

Investment demand for San Diego multifamily product is still holding strong, with 2,878 apartment units changing hands here in the first quarter of this year, according to a Burnham Real Estate Services report. According to Burnham’s research, 265 multifamily complexes sold in the first three months of 2003, as compared with 246 in the same period last year.

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