SAN DIEGO—A multi-family portfolio involving the Pacific Cove, Genesis and Casa Serena apartment complexes has been purchased by Positive Investments, of Arcadia, CA, for a combined price of $17.4 million.
Joseph Chavez, senior vice president of Lee & Associates Investment Services Group, represented the buyer.
Pacific Cove, comprised of 81 units is located at 4019-4027 Oakcrest Drive. It sold for $7.75 million and is 100% leased. The Genesis Apartments, which sold for $5.4 million, is located at 5492-96 Imperial Ave., and is 98% leased. Casa Serena, with 37 units and located 6433-6456 Shaules Street, sold for $4.2 million and is 100% leased.
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