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49-Unit Multifamily Asset Trades Hands

VISTA, CA-Carlanda LLC acquires the local complex, which is located at 246 Emerald Dr. Common amenities here include laundry facilities, a play area and a gated entrance.

By Erin Cassin | Updated on October 01, 2003

VISTA, CA-In the latest signal of the solid investment activity currently occurring in San Diego County’s apartment market, a local multifamily asset has recently fetched $117,142 per unit.

The 49-unit property, known as Emerald Vista, has been acquired by Carlanda LLC. The buyer has shelled out a total of $5.7 million for the asset, which is located at 246 Emerald Dr. just seven miles from the beach and within close proximity to Highway 78 and Interstate 5. Built in 1979, the complex is comprised of 14 two-bedroom units and 35 three-bedroom units. The property brochure describes it as a family-oriented community, which features a play area and laundry facilities on the premises. Additional amenities include a gated entrance, 34 uncovered parking spaces and 47 covered parking spaces with walk-in storage rooms, as well as private backyards and balconies, dishwashers, garbage disposals, ceiling fans and air conditioning. Rents here range from $1,045 per month to $1,175 per month.

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