Recent Apartment Deals Top $27M

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SAN DIEGO-One of the stronger products types in the region – multifamily properties for sale – remain red hot with numerous deals recently changing hands, totaling more than $27 million. The Monterey Apartments is not a large complex, counting only 15 units. But the property is located in Coronado, which boasts the most expensive land prices/sf of any residential area in San Diego, and its recent sale topped $7.1 million or roughly $475,000 a unit. The complex is set for a conversion to condos.In the deal, DJF LLC acquired the property from 440 Orange Coronado Inc. Eric Comer and Jim Neil of CB Richard Ellis Inc. represented the seller, while the DJF LLC was represented in-house. The Monterey has a Spanish Colonial style and is within walking distance of the ocean and Spreckles Park.In other activity, Diane Miramontes and Darcy Miramontes of Grubb & Ellis