Sold! Carlsbad Apt Complex Off the Market

The multifamily apartment-complex market is steady-as-it-goes, continuing momentum that built in 2021 and continues into 2022. 

In Carlsbad, an apartment complex has been sold for nearly $5.2 million. DN Holdings, LLC, bought the building that includes 11 apartments at 941-947 Oak Ave. The seller was North A, LLC.

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The living units range in sizes: the apartments are a mix of two-bedroom, one-bathroom units of 800 square feet; one-bedroom, one-bathroom units of 650 square feet; and a three-bedroom, two-bathroom apartment of 1,200 square feet.

Abe Peay and Jeff Diller of South Coast Commercial, Inc. represented the buyer and the seller.

Monthly costs for rental-unit leases aren’t going anywhere but upward, at least according to housing economist Chris Salviati, who told San Diego’s Channel 8: ​“Throughout 2021, we were seeing rent growth far above the typical trends that we’re used to in pre-pandemic years.”