November 18, 2020
Courtyard Apartments, a 37-unit apartment property located in Santee, traded hands for $7,175,000. The buyer was an affiliate of F&F Properties, while the seller was R.A.R Property, LLC, a private investor.
This sale represents the largest sale in the Santee submarket in more than three years and only the second sale in the past twelve months. Despite the disruption having to do with COVID-19, the property traded within 98% of list price and had multiple suitors.
Courtyard Apartments is located at 10267 Mast Blvd. The property is comprised of all one-bedroom/one-bathroom units and has 14 garages along with 75 surface level parking spaces.
Marcus & Millichap’s Austin Huffman and Christopher J. Zorbas, of The Zorbas Group in Marcus & Millichap’s San Diego office, marketed the property on behalf of the seller and procured the buyer.
For comments, questions or concerns, please contact Dennis Kaiser