A 97-unit apartment complex near San Diego State University has been sold for $17.9 million.
Willow Glen Apartments, 3635-3675 College Ave., was sold by 3635 College Ave., LLC to Willow Glen Real Estate Holdings, LLC.
Built in 1963, the 58,814 square-foot complex was renovated in 2017.
The one-bedroom and two-bedroom apartments in the complex average 526 square feet, according to CoStar, a real estate listing service.
Peter Scepanovic and Corey McHenry of Colliers International San Diego Region represented the seller.
Benn Vogelsang of South Coast Commercial, Inc. represented the buyer.
“The Willow Glen Apartments provided the new ownership a rare opportunity to acquire a larger multi-family property in SDSU College area,” Scepanovic said. “With low vacancy rates in the College area, close proximity to San Diego State University and public transit, and additional value add opportunities, the property will be a strong investment for years to come.”
Real estate reporter Ray Huard may be reached at firstname.lastname@example.org or 858-277-8904.