The San Diego-based buyer, Maxim N. Moyal UTD 9-22-89, has shelled out $3 million to seller Cameron 36 LLC for the El Cajon asset. Known as Cameron Apartments, the property stands at 346 S. Mollison Ave. It houses a total of 36 units.

Steve Huffman and Jules Arthur of the San Diego office of Hendricks & Partners represented the seller in the recent multifamily transaction. Craig Rubin of Rubin & Associates acted on behalf of the buyer.

The El Cajon sale is the latest in a string of apartment sales to occur in San Diego County, as investors continue to vie for available multifamily product here. Sale prices are still rising, according to a report by Marcus & Millichap Real Estate Investment Brokerage Co. that predicts the median price to climb 7% over the next year, to $107,000 per unit. Even with cap rates steadily declining, Marcus & Millichap's researchers say multifamily investors "believe in the future of the market, as they see a growing number of jobs and low affordability securing a floor under prices."