Real Estate
Investor Pays $17.8 Million For Amaya Avenue Apartment Complex
The residences, built in 1971, has 110 units.
A 42-year-old La Mesa apartment building has sold for $17.8 million, according to the San Diego Business Journal.
Los Angeles area investor Yoshiteru Kawase bought the 110-unit Vista Amaya building, at 5810 Amaya Drive. It recently received more than $400,000 in renovations. Nearly 30 units were also revamped.
Vista Amaya Ltd. was the seller of the 5-acre site.
The report also noted that sales of such large apartment properties are down as compared to last year; 14 had sold in the first six months of 2012, but only five have this year, according to a CBRE executive. CBRE represented Vista Amaya in the transaction.
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