Carv Properties Acquires Multifamily Property In El Cajon For $6M

The recent sale of a multifamily property in El Cajon has caught the attention of real estate enthusiasts. Located at 535 Greenfield Drive, this property is a prime asset in the market. The transaction was completed on 08/17/2022 and involved the sale of 23 units with a total square footage of 24,000. The property was purchased by Carv Properties from the Ching Tsai Chan Trust for a total price of $6,000,000, equating to an average price per unit of $260,869. The price per square foot was $250, reflecting the value of this multifamily asset.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Units: 23
• Price per Unit: $260,869
• Square Footage: 24,000
• Price per Square Foot: $250

The successful completion of this transaction was facilitated by James Carter and Angelo La Bruna, both representing the Apartment Realty Group. Their expertise and negotiation skills played a crucial role in finalizing the deal between Carv Properties and the Ching Tsai Chan Trust. This sale marks a significant milestone in the multifamily property market in El Cajon.