San Diego Business Journal

Chula Vista Apartments Sell for $9.6M

Friday, June 14, 2013

Investor Masaaki Shintaku has purchased Vista Pacific Villas, a 55-unit apartment complex in Chula Vista, for $9.6 million. The property is at 1035 4th Ave., according to CoStar Group and public documents.

The seller was Vista Pacific Villas LP. The deal was part of a transaction known as a 1031 exchange, involving other properties.

The buyer was represented by the Chicago-based law firm Masuda Funai and broker Cosmo Investments of Los Angeles. Brokerage firm Hendricks & Partners represented the seller.

Vista Pacific Villas spans a total of 50,060 square feet, constructed on 1.98 acres in 1981.

— SDBJ Staff Report