Apartment on South Anza in El Cajon sold for $5.67 million by Rick Griffin

The 56-unit garden-style apartment at 588 S. Anza St. in El Cajon has been sold for $5.67 million. The buyer was David L. Lysinger, trustee of the 1999 Lysinger Trust, 946 S. Anza St., Suite 1, El Cajon. The acquisition was financed with a loan of $4.17 million from JPMorgan Chase Bank (NYSE: JPM). The sellers of the property were Bruce Allen Starr and Sandra Jayne Starr, trustees of the Starr Family Trust. Cody Evans, senior associate with South Coast Commercial Inc., represented the sellers. Ron Mazzola of Ron Mazzola Realty represented the buyer. The two-level, 45,460-square-foot complex consists of five separate structures. The buildings were constructed in 1977 and consist of 29 one-bedroom units, 19 two-bedroom-one bath units and eight two-bedroom-1.5-bath units. The apartment was constructed in 1977 on a 2.34-acre lot. In March 1990, the property was sold for $2.73 million. The property sold at $124.84 on a price per square foot and equates to $101,339 per unit.

Rick Griffin
Advertising, Public Relations
7777 Alvarado Road, Suite 288
La Mesa, CA 91941
Phone: (619) 461-3104.
FAX: ((619) 461-3151.
Mobile: (619) 867-8020