A Tustin-based investment group recorded as River Oaks Apartments LLC has acquired Pharus Plaza, a 30-unit apartment property in Chula Vista, for approximately $8.39 million, according to CoStar Group and brokerage firm Marcus & Millichap.
The seller of the property, at 1030 Broadway, was San Diego-based Kreutzkamp Separate Property Trust, represented by Marcus & Millichap’s Christopher Zorbas. The buyer was represented by Zorbas and Hunter Graul, also of Marcus & Millichap.
The property was built on 1.23 acres in 2007. Brokers said it consists of two three-story residential buildings, with one two-story retail building and a retail kiosk.