Monday, July 28, 2003

editor@sddt.com http://www.sddt.com Source Code: 20030728tra

 
Forty-nine apartment units in El Cajon sold for $4.6 million
Monday, July 28, 2003

The 28-unit Carisbrooke Apartments at 382 South Anza St. in El Cajon 92020, have been sold for $2,775,000.
The buyer was Carisbrooke Apartments LLC, a California limited liability company with Marlene E. Lancer as president, c/o Epic One Real Estate, P.O. Box 966, La Mesa 91944.
The acquisition was financed with a loan of $1.15 million from Washington Mutual Bank.
The sellers of the property (assessor's parcel 488-262-27) were West Park Associates LLC (33.34 percent) and U.K. Capital LLC (66.66 percent). Jonathan Lampitt is managing member of both sellers.
Peter Scepanovic of Colliers International represented the sellers. Ari Schauder of Epic One Real Estate represented the buyer.
The multifamily, garden apartments were built in 1977 and feature seven one-bedroom units, 16 two-bedroom/1.5-bath units, and 5 three-bedroom/two-bath units.
The two-story, approximately 25,440-square-foot complex was sold for approximately $1.8 million in July 2001.
The 21-unit apartments at 902 South Mollison Ave. in El Cajon 92020, have been sold for $1.8 million.
The buyers were Ronald and Judith Endeman, 1556 Kimberly Woods Drive, El Cajon 92020.
The acquisition was financed with a loan of $1,125,000 from Washington Mutual Bank.
The sellers of the property (assessor's parcel 493-224-48) were West Park Associates LLC (one-third) and U.K. Capital, LLC (two-thirds).
Scepanovic of Colliers represented the sellers. Jon Busse, also of Colliers, represented the buyers.
The multifamily, garden apartment project was built in 1978 and consists of three one-bedroom units, 17 two-bedroom/one-bath units, and a single two-bedroom/1.5-bath unit.
The two-story, approximately 17,124-square-foot complex was sold for approximately $1,325,000 in July 2001.
The Carisbrooke, the Mollison Pines and the 32-unit Four Lanterns apartment complex in El Cajon reported sold for $2.86 million in this column Monday, July 28, were an 81-unit complex of three apartments sold for $7.4 million.