Buyer Sunset Village LLC has shelled out $126,736 per unit to San Diego-based seller Sunset South Bay Ltd. for the asset, which is located at 3560 Sunset Lane in the city. Known as Sunset Village, the property contains a total of 144 units that include both one-bedroom, one-bath floor plans and two-bedroom, two-bath designs. According to Sunset Village's management office, the complex features a swimming pool, spa, Jacuzzi, barbecue pits, two laundry facilities and a playground. The management office is also located onsite.

The buyer was attracted to the property because it is mapped for condos, according to Jules Arthur of Hendricks & Partners. Arthur, along with Hendricks & Partners colleague Steve Huffman, brokered the transaction. "It was bought as a condo conversion opportunity," Arthur tells GlobeSt.com, adding that "the buyer intends to convert the units into condos and then sell them off."