Agee VIII, LLC Acquires 17-Unit Multifamily Property In Poway From The Kirven Trust For $5.34M

The property involved in this transaction is a multifamily asset known as Carriage House Apartments, situated at 13112 Carriage Road in the Poway market. This 17-unit complex, built in the 1970s, was sold for a total of $5,340,000, amounting to approximately $314,118 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,340,000
• Units: 17
• Price Per Unit: $314,118
• Buyer: Agee VIII, LLC
• Seller: The Kirven Trust
• Buyer's Representative: Jim Neil - Kidder Mathews
• Seller's Representative: Robert Vallera - Voit Real Estate Services

The acquisition was brokered by Kidder Mathews and Voit Real Estate Services. Following the purchase, Agee VIII, LLC intends to modernize the property incrementally over time.