San Diego County, CA Multifamily Property Sells for $11.1 Million

Castle Park Garden Apartments, Chula Vista, CA

CHULA VISTA, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Castle Park Garden, a 70-unit apartment property featuring a 62-unit building with eight adjacent units.

Located in Chula Vista, Calif., the property sold for $11,100,000, which equates to $158,571 per unit.

Christopher Zorbas, first vice president investments, and Jorge Jimenez, senior associate, both in Marcus & Millichap’s San Diego office, represented the seller, The Kreutzkamp 2000 Revocable Trust with Charles F. Kreutzkamp as trustee.

Christopher Zorbas

 The buyer, Mark II LP, was also represented by Zorbas and Jimenez. The managing member for Mark II LP is Mark Covarrubias. 

The 62-unit portion of Castle Park Garden is located at 272 Kennedy St. and the remaining eight units are next door at 251 Oxford St. The property features 32 one-bedroom/one-bath units, 30 two-bedroom/one-bath apartments, seven two-bedroom/two-bath units and one four-bedroom/two-bath apartment.

Amenities include laundry facilities, a playground area and 100 surface parking spaces

For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

Marcus & Millichap

(925) 953-1716