The property, known as Green Ranch, is situated on a large parcel located at 180-96 F St., according to Chad Bramwell of the San Diego office of Hendricks & Partners, who brokered the transaction. In addition to its sizable grounds, the Green Ranch property features a courtyard setting and garages, Bramwell adds.
Buyers GJC Royal Villa LLC, RWU Royal Villa LLC and JC Royal Villa LLC of Alpine have purchased Green Ranch for $112,308 per unit, which translates to approximately $4.4 million total. The seller was Rancho Santa Fe-based WL Properties LLC. According to Bramwell, the transaction involved 1031exchanges on both the buyers' and seller's sides.
The metro market continues to attract investment dollars, due to its current favorable dynamics. Bramwell tells GlobeSt.com that the region presently offers "low vacancy levels and an excellent upside for rents."
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