El Cajon apartment complex sold for $11.5 million

A 79-unit, garden-style apartment community on Lexington Avenue in El Cajon has been sold for $11,500,000, or $145,570 per unit. The seller was Cabrillo Knolls LP of R&V Management of San Diego. The buyer was 800 East Lexington LP of La Mesa.
The transaction was negotiated by Steve Huffman of the San Diego office of Hendricks & Partners. Escrow and title services were provided by Toby MacFarlane of Title 365. Built in 1987, Lexington offers two- and three-bedroom floor plans averaging 881 square feet. The unit mix consists of 73 two-bedroom apartments and six three-bedroom rentals.