El Cajon Apartments Sold for $8MMonday, January 14, 2013
Locally based Recht Family Trust has purchased the 58-unit Greenfield Estates apartment complex in El Cajon for $8 million. The seller was R&V Management Corp. of San Diego, represented by brokerage firm CBRE.
Ron Mazzola Realty represented the buyer, which assumed a $5.68 million Fannie Mae loan for the purchase, according to a statement from CBRE.
The apartment property, at 501 Greenfield Drive, was 96 percent occupied at the time of sale. It consists of eight two-story buildings, and was built in 1988 on 1.92 acres.
-- SDBJ Staff Report