Newly-Built Multifamily Complex Sells for $25M in Escondido
City Plaza, a four-year-old, 56-unit apartment building has been sold by Escondido Apartments Investment LLC for $25 million or $446,000 per unit. Colliers’ Peter Scepanovic and Corey McHenry represented the buyer, Providence City Plaza Apartments II LLC.
The complex is located at 300 S. Escondido Blvd. in Escondido, CA just blocks away from the downtown area and along the Interstate 78 corridor in North San Diego County. The mixed-use property features one- and two-bedroom units above the first floor commercial space and includes subterranean parking.
City Plaza is located within walking distance of several restaurants, and close to public transit, schools, parks and retail as well. Escondido has quickly become one of San Diego’s popular move-in submarkets, as it remains accessible to all income levels.
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