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Northmarq Brokers $8M Sale of El Cajon Multifamily Complex

Northmarq Brokers $8M Sale of El Cajon Multifamily Complex

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.


Inside The Story

Northmarq San DiegoErik AndersonInsight Investment Partners

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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