Coco Palms apartments
Photo courtesy of ACRE Investment Real Estate Services

Coco Palms apartments Photo courtesy of ACRE Investment Real Estate Services

A San Diego company has acquired an El Centro apartment building for $4.3 million.

Anthem Real Estate Ventures, Inc. bought Coco Palms apartments, 1507 Barbara Worth Drive, from Bond Properties, LLC,

Built in 1969, the building has 66 apartments - one studio apartment, 49 one-bedroom, one-bathroom apartments, and 16 two-bedroom, two bathroom units.

Bill Anderson, principal of ACRE Investment Real Estate Services, represented both parties in the transaction.

“The acquisition of Coco Palms in El Centro represents an attractive cash flow asset situated in a dense working class neighborhood with walkability to grocers, schools and restaurants,” Anderson said.

Real estate reporter Ray Huard may be reached at rhuard@sdbj.com or 858-277-8904.