Robert Graeme Henderson Represents 10 Mendridge LLC In $3.52M El Cajon Multifamily Sale

The multifamily asset involved in the transaction is an apartment complex located at 181 Ballantyne Street in El Cajon. The property, known as Rockford Gardens, was built in 1971 on a 0.53-acre lot. It consists of 16 units, offering a mix of one-bedroom and two-bedroom layouts. Amenities on the premises include off-street parking, private yards, on-site laundry facilities, and a tenant courtyard. The transaction finalized at a sale price of $3,520,000, equating to a price per unit of $220,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,520,000
• Units: 16
• Address: 181 Ballantyne Street
• Market: El Cajon

Representing the buyer, 10 Mendridge LLC, in this deal was Robert Graeme Henderson from Marcus & Millichap's San Diego Del Mar office. On the opposite side, Allen Chitayat of CBRE served as the seller's representative, working with Rockford Equity LLC. The new owner, 10 Mendridge LLC, plans to enhance the property through both interior and exterior renovations, seeking to improve its overall appeal and value in the market.