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California  + San Diego  + Apartments  | 
The 413,119,000 paid for Eucalyptus Apartments is the highest in coastal Encinitas in 14 years

Encinitas Multifamily Deal Hits 14-Year High on Pricing 

Marcus & Millichap closed the sale of Eucalyptus Apartments, a 26-unit apartment property located in Encinitas. According to Damon Wyler, regional manager of the firm’s San Diego Del Mar office, the asset sold for $13,119,000. 

Executive managing director Christopher J. Zorbas and first VP Gary R. Weddle with The Zorbas Group in the San Diego Del Mar office marketed the property on behalf of the seller, The Kazandjian Family.  The buyer, an affiliate of RAF Pacifica Group, was secured and represented by Zorbas and Weddle.   

Eucalyptus Apartments is located at 1201 N Vulcan Ave in Encinitas. This sale represented the largest multifamily transaction in Coastal Encinitas in more than 14 years, according to Marcus & Millichap. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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