Universe Holdings Acquires La Mesa Multifamily for $34M
Universe Holdings has acquired Serena Vista, a 110-unit multifamily property, for $34.45 million, or approximately $313,181 per unit. Located at 5810 Amaya Dr. in La Mesa, CA, the property is situated on 5.1 acres and was originally built in 1971.
A team from Marcus & Millichap’s Institutional Property Advisors of Christopher Zorbas and Alexander Garcia, Jr. represented the seller, 5810 Amaya LLC, an affiliate of Cirrus Asset Management Inc., and identified Universe as the best option buyer.
Serena Vista is near local freeways, including Interstate 8 and State Route 125, and sits just four blocks from the Amaya Drive Trolley Center.
According to IPA’s Garcia, “Serena Vista has had significant interior and exterior upgrades; however, the opportunity exists to make additional enhancements to current and previously-renovated units and to expand and improve common area amenities.”
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