A Fallbrook apartment complex has been sold for $6.9 million.
The 48-unit Casa Loma Apartments at 218 Clemmens Lane was sold by Woodspear Properties to Efren R. Cota, Ltd.
Built in 1975, apartments in the 30,048 square-foot complex average 665 square feet, according to CoStar, a real estate listing service.
Woodspear Properties was represented by Merrick Matricardi, Jim Neal and Eric Comer of Kidder Mathews.
Efren R. Cota, Ltd. was represented by Robert Cota and Mark Edwards of Bob Cota Realty.
“This property is well maintained, and in-place rents are below market compared to similar communities in Fallbrook, giving Casa rents room for growth in the current market,” Matricardi said.