Playa Blanca Apartments Have Resale Conversion Option
Playa Blanca Apartments, a 44-unit apartment property located at 1939, 1945 and 1949 Avenida Del Mexico in Imperial Beach, CA, recently sold for $11.3 million. The property, which can be converted for resale condominiums in the future, is part of a 161-unit condominium community.
The buyer, a San Diego-based limited liability company, was represented by John Burrows Company. Avison Young’s Peter Hauser, Chris Maling, David Maling and Matthew Hauser represented the seller, a San Diego-based privately held corporation.
“Playa Blanca is the premier rental property in the area, and is fully mapped and approved for a condominium conversion if desired,” said Hauser. “The owner sold the property with motivation to sell and exchange into NNN investments, which our Avison Young team is assisting with as well.”
Built in 1986 and fully renovated in 2005, Playa Blanca Apartments features a mix of one- and two-bedroom apartments.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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