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62-Unit MF in La Mesa, CA Sells for $14M
Rimrock Apartments, located at 8420 Buckland St. in La Mesa, CA, has sold for $14.1 million. The buyer was Joehnk LLC, a Wyoming-based closed limited liability company, while the seller was Rimrock, LP and Partners LLC.
Built in 1974, the asset is a well-maintained, garden-style community with 62 value-add apartment homes. The property has undergone renovations to the exterior and select interior units, but approximately 70% of the apartments are in the original condition.
Rimrock Apartments consists of 48 one-bedroom/one-bath and 14 two-bedroom/two-bath floor plans, with community amenities including a pool, a spa and a shared laundry room. The property is located near numerous big-box retail, services and restaurants. Grossmont Transit Center, which is served by the San Diego Trolley system, is half a mile away.
Kidder Mathews’ Jim Neil, Eric Comer, Merrick Matricardi and Bryan Calhoun represented the seller in the transaction. The buyer was self-represented.
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- ◦Sale/Acquisition




