Project Description
285 West San Marcos Blvd.
San Marcos, CA 92069
Purchase Price:
Total Units:
Price Per Unit:
Rentable SF:
Price Per SF:
Cap Rate:
GRM:
$9,470,000
70
$135,286
54,600
$173.44
5.7%
9.8
Press Release
San Marcos Manor, a 70-Unit Apartment community located at 285 West San Marcos Blvd., San Marcos 92069, has been sold for $9.47 million, or $135,286 per unit. The buyer was TK Infinity, LLC, a California limited liability company with Paul Kraemer as Manager. The acquisition was part of the buyer’s 1031 exchange with $6.5 million financed by JPMorgan Chase. The seller of the property (assessor’s parcel 220-190-01) was Providence Capital Fund I, L.P. a California limited partnership with Paul A. Laubach and David B. Sholem as General Partners.
Bill Anderson, a Senior Vice President and Principal of ACRE Investment Real Estate Services, negotiated the sale. Escrow services were provided by Annemarie LoCoco of Chicago Title’s Park Camino Branch. Cameron Aldrich of Chicago Title provided the title insurance.
San Marcos Manor Apartments, built in 1985, consists of all two-bedroom, one-bath units totaling 54,600 rentable square feet. Located on West San Marcos Blvd., property amenities include a pool, club-house, bbq common area, on-site laundry and covered parking situated on over 2.7 acres.
Contact Information
William R Anderson
MBA, Senior Vice President | Principal
Direct: 760.230.8015
Fax: 760.944.9119
