SAN DIEGO, CALIFORNIA (March 31, 2021) – The San Diego Investment Sales team consisting of Erik Anderson and Kyle Pinkalla, arranged the $7.7 million sale of Solstice Apartments. The 28-unit multifamily property is located at 7240 El Cajon Boulevard in San Diego, California within the College submarket.
The property is a 3-story, 20,822 square foot building sitting on 0.32 acres. The building is comprised of 2 studios, 2 one-bedrooms and 24 two-bedrooms. The property was built in 1972.
“This sale is a testament to our deep-rooted connections within the San Diego market,” said Anderson. “We were able to procure a 1031 exchange buyer and deliver a fantastic outcome for our client IEC, with a smooth close and at their pricing expectations. The seller was able to hit their return metrics and the new buyer will enjoy a quality turnkey asset for years to come. “
The property was purchased from Interstate Equities Corporation, represented by Anderson and Pinkalla. The buyer is an undisclosed 1031 exchange buyer.