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Long Beach Firm Buys La Mesa Apartment Complex in $7.1-Mil Deal

LA MESA, CA-RK Properties has tapped into the locally hot multifamily market with its purchase of Casa de Colina Apartments. The deal is valued at $82,558 per unit.

By Randyl J. Drummer | Updated on October 22, 2001

LA MESA, CA-A firm based in the South Bay of Los Angeles County has bought an apartment community in this San Diego suburb in a deal valued at $7.1 million. RK Properties, located in Long Beach, bought the Casa de Colina Apartments, located at 8515 Chloe Ave.

In keeping with the strong multifamily market throughout the county, the deal penciled out to an impressive $82,558 per unit, with a price per sf of $111 for 64,020 sf of net rentable space. La Mesa and the greater San Diego area have experienced a run-up in both values and rents over the last two years.

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