345 E. Park Ave.
Photo courtesy of Marcus & Millichap

345 E. Park Ave. Photo courtesy of Marcus & Millichap

An Escondido apartment complex has been sold for $8.3 million.

La Serena Apartments, 345 E. Park Ave., was acquired by Walz Properties from SHS Development Corp.

Representing both parties from the San Diego offices of Marcus & Millichap were Senior Managing Director Christopher J. Zorbas and Investment Associate Austin Ray Huffman.

The complex has 37 apartments that average 760 square feet.

Walz Properties in December acquired Mission Grande apartments, 455 E. Washington Ave., for $9.2 million.

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