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California  + San Diego  + Apartments  | 
San Diego-based F&F Properties acquired Hawaiian Gardens apartments in Imperial Beach, CA for $19 million

Imperial Beach Apartments Trade to Local Buyer for $19M

Marcus & Millichap arranged the sale of Hawaiian Gardens, a 64-unit apartment property located at 1031 Imperial Beach Blvd. in Imperial Beach. The asset sold for $19,000,000.

SVP investment Tom McCartin marketed the property on behalf of the seller, a private investor. He also represented the buyer, locally based F&F Properties.

“The buyer plans on doing a full interior and exterior rehab to the property which should greatly improve the Imperial Beach rental housing submarket,” said McCartin. “Rents were well below market at the time of sale. Multiple competing offers were generated because of attractive seller financing.”

Built in 1973, Hawaiian Gardens consists primarily of two-bedroom units.

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Marcus & Millichap's McCartin

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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