Vista, CA –January 11, 2024 - Lee & Associates - NSDC, a premier commercial real estate firm in San Diego County, is excited to announce the sale of 247 Alestar St, a 4-unit investment property in Vista. The property was sold for $1,387,430 which was 103% of the listing price.

 

Brought to market on November 1, 2023, The Von Bluecher, the Lee & Associates North San Diego County Multifamily Team – Eric von Bluecher and Ivan Del Muro-Garcia, executed full marketing and generated seven offers within the first two weeks of marketing the property. The well-maintained property consists of 4 units, featuring a mix (1) 3-Bed, 2-Bath; (2) 2-Bed, 2-Baths, (1) 1-Bed, 1-Bath. The building was upgraded in 2017 and featured upside potential of +/-56%. The property is Located just off the 78, 10 minutes to both the 5 and 15 freeways, minutes to Vista Village and Sprinter.

 

Eric von Bluecher and Ivan Del Muro-Garcia of Lee & Associates – NSDC represented the Seller, and the Buyer was represented by Terry Moore of ACI.

 

"The sale of 247 Alestar shows that despite higher interest rates and low cap rates, well maintained apartment buildings located in desirable areas continue to be profitable investment opportunities. The sellers received a fair market value while the buyers will still have considerable upside opportunity without heavily investing in Cap Ex. Thank you to all parties involved in this sale." - Eric von Bluecher.