Investor Craig Knudson of San Diego has acquired the 36-unit Rancho Coronado apartment property in Imperial Beach for $8 million, according to brokerage company Marcus & Millichap Inc.
The seller of the property at 740 Florida St. was D&A Daily Mortgage Fund III LP of San Diego, represented by Marcus & Millichap’s Jorge Jimenez. The buyer was represented by Ron Mazzola of Ron Mazzola Realty.
Brokers said the two-story, multi-building complex was originally built as condominiums in 1987. It was renovated and converted to apartments in 2010.