The multifamily asset, known as The Garden, houses a total of 16units. It is located at 280 H St. in Chula Vista.

Buyers Steve Burnham and Victor Olvera of San Diego acquired theproperty from the La Mesa-based seller HCA CV 16 APTS LLC. DickBassett and Chad Bramwell of the San Diego office of Hendricks& Partners brokered the transaction, which is valued at nearly$1.8 million.

While investment activity in all sectors of the San Diegoapartment market continues at a steady pace, it is actually smallerproperties like The Garden (as well as mid-sized complexes), thatseem to be trading hands at a faster rate. According to a Juneresearch report compiled by Burnham Real Estate Services, thevolume of first quarter 2003 apartment sales in San Diego increased7.7% from the same period in 2002, while the number of units solddropped by 33.9%. Burnham's researchers say the figures are due toa decline in the number of transactions involving 100 units ormore.