Value-Add Rentals Go for $13M in El Cajon

Marcus & Millichap closed the sale of 229 Shady Ln., a circa-1969, 59-unit multifamily property located in El Cajon. The asset sold for $13.25 million, or $224,576 per unit.

“Value-add apartment communities in East County San Diego continue to attract investor interest because of strong renter demand, limited housing supply and opportunities to improve operations over time,” said Austin Huffman, senior director investments. “Villa Capri offered an attractive combination of spacious floor plans, upgraded property systems and meaningful rental upside, making it a compelling acquisition for an investor seeking long-term value.”

Huffman and Christopher Zorbas, investment specialists in Marcus & Millichap’s San Diego office, represented the seller, Mary Susan Curry 2020 Revocable Living Trust, and procured the buyer, TFT Capital I.

The property is located near Interstate 8, the El Cajon Transit Center and major employment centers throughout San Diego County. The buyer plans to renovate the property to enhance its long-term value.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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