Four Buildings Constitute El Cajon’s Largest Non-institutional Sale in Five Years

The 28-unit Easter Manor Apartments, 23-unit East Winds, 19-unit Sunshine Manor Apartments and 19-unit Sunshine Villas in El Cajon recently sold for $22 million. The four buildings total 89 units and represent the largest noninstitutional portfolio sale in El Cajon in more than five years.

The assets were purchased from Swanson Real Estate Solutions, and the buyer is El Cajon Investor 1 and El Cajon Investor 2. Erik Anderson and Kyle Pinkalla of the Northmarq San Diego investment sales team arranged the sale, representing both parties in the transaction.

“Purchasing workforce housing in more tertiary submarkets has been a major push for investors as rents have gotten prohibitive to living closer to the CBD,” said Anderson. “The sale allowed the seller to free up a large chunk of built-up equity, while presenting the buyer the opportunity to add four properties of scale to their growing portfolio in East County.”