Insight Investment Partners has purchased Easter Manor Apartments, a 28-unit multifamily complex in El Cajon, CA. Northmarq’s Erik Anderson arranged the $8.12 million transaction representing both the buyer and the seller, a private California investment firm.

“This transaction was a testament to the value of quality newer vintage real estate coupled with low interest rate debt. The buyer was able to assume years’ worth of sub three percent interest rate debt in a market where volatility is top of mind,” said Anderson. “The buyer owns multiple properties in the area and will be improving the property condition and enjoying the robust rent growth and air-tight vacancy of El Cajon long term.”

Easter Manor Apartments is a two-story complex situated in the Bostonia neighborhood. The property features mostly two-bedroom units with nine-foot ceilings and vinyl plank flooring. Community amenities include on-site laundry, a central picnic area and plentiful parking.