Marcus & Millichap Closes $12.5M Sale of La Mesa Seniors Housing
Marcus & Millichap finalized the sale of 5035-49 Guava Ave., an 81-unit seniors affordable multifamily property located in La Mesa. The property sold for $12.5 million, or $154,320 per unit. “Age-restricted communities with long-term affordability protections are rarely available for acquisition in San Diego County,” said Christopher Zorbas, executive managing director investments. “This transaction reflects the continued demand for well-maintained affordable senior housing, and despite broader industry headwinds, we remain confident in the long-term fundamentals […]