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NAI Capital Completes 5-unit Multifamily Investment Sale in Rancho Santa Fe, CA

05/09/2019

Irvine, CA – May 9, 2019 – Vice President Steve Gim and Senior Vice President Steve Heri, CCIM with NAI Capital’s Multifamily Services Group and Executive Vice President David Knowlton, SIOR, CCIM completed the sale of a 5-unit apartment/condominium complex located in Rancho Santa Fe, California. Gim, Heri, and Knowlton represented the buyer, Westminster School District, in the transaction. The sale price was $5,100,000 or $1,020,000 per unit.

Villa La Serena is located at 6177 El Tordo. Built in 1989, the property is a five unit condo mapped apartment building. All units came fully furnished. Villa La Serena is just steps from Rancho Santa Fe Village and is located in The Covenant, which is one of Rancho Santa Fe’s most sought after areas within Rancho Santa Fe in North County San Diego. The Covenant boast an extensive network of private trails expanding nearly 60 miles and are only exclusive to Covenant residents and their guests.  With the exclusivity, residents get to enjoy an array of activities, events and clubs including the regions finest golf and tennis clubs. The Rancho Santa Fe Golf Club, named as one of the top 20 best golf venues by Golf Digest Magazine, is the centerpiece of The Covenant historic and prestigious community. It is exclusive to property owners within the perimeters. The Rancho Santa Fe Golf Club is a spectacularly endowed “natural” golf course that was carved from the rolling terrain of a eucalyptus forest and is surrounded by bucolic trails and beautiful estates.

The western border of Rancho Santa Fe is about 5 miles from the ocean and about 20 miles from downtown San Diego. Rancho Santa Fe is an affluent town with an average household income of over $178,000 and the average housing price of $2,542,000.

Gim said, “Villa La Serena provided our client a unique opportunity to own 5 fully furnished units that can be rented as vacation rentals or traditional apartment rentals in a sought after and prestigious market.”

“In addition, being condo mapped this investment provides our client the opportunity to sell off individual condos with the option of retaining as many as they wish as apartment rentals,” noted Heri.

About NAI Capital

NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.

NAI Capital Brokerage CA BRE #01990696.

To learn more, visit www.naicapital.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.

To learn more, visit www.naiglobal.com.

         

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Source

NAI Capital

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