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Thursday, Apr 18, 2024
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10-Unit Apartment Building in Santee Sells for $7.1M

Marcus & Millichap has sold a 10-unit apartment building in Santee. The property, located at 9260 East Heaney Circle, sold for $7,159,000.

The buyer, an individual/personal trust, was procured by Aaron Bove, senior managing director investments in Marcus & Millichap’s San Diego Del Mar office.

The seller, Responsible Residential is a San Diego based residential development company focused on build to rent communities. Principals Bryan Underwood and Sean Jones seek to develop quality middle income housing throughout San Diego.

“We are very proud of our build to rent townhome community,” said Bryan Underwood, Principal of Responsible Residential who developed the project. “The most difficult part is getting the project to the finish line. We were thankful to partner with Aaron Bove, his team and Marcus and Millichap, to bring a quality buyer to the table.”

The asset is located at 9260 East Heaney Circle in Santee, California. The project consists of 10 townhomes in two, three-story buildings. The two buildings at Carlton Oaks Townhomes are separated by a private road which provides access to each unit’s two-car garage. The identical floor plans in each unit offer approximately 1,477 square-feet of living space.

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