Value-Add Rentals Go for $13M in El Cajon

Marcus & Millichap closed the sale of 229 Shady Ln., a circa-1969, 59-unit multifamily property located in El Cajon. The asset sold for $13.25 million, or $224,576 per unit. “Value-add apartment communities in East County San Diego continue to attract investor interest because of strong renter demand, limited housing supply and opportunities to improve operations...