SENTRE Sells Carlton Heights Villas Multi-Family Property in Santee for $13M

 

July 24, 2017

 

San Diego based commercial real estate investment firm SENTRE, dba Carlton Heights Villas, LLC has sold the 70-unit Carlton Heights Villas apartment community in the neighborhood of Santee to CVG Properties Inc., a California corporation, for $13 million or $185,000 per unit. The seller was represented in this transaction by Ed Rosen and Kyle Pinkalla at Berkadia.

 

Located at 9705 Carlton Hills Boulevard, mere minutes from the Santee Trolley Square and Mission Trails Regional Park, in recent years Carlton Heights Villas underwent significant interior and exterior improvements as SENTRE worked to bring added value and aesthetics to both the apartment community and the neighborhood in which it resides.

 

Built in 1979, the property features one-bedroom and two-bedroom floor plans complete with hardwood style flooring in kitchens, upgraded designer faucets and light fixtures, air conditioning, ceiling fans, dining rooms, mirrored closet doors and modern two-tone paint. Select units feature private balconies and patios, spacious pantries, walk-in closets and baths. Onsite amenities include a state-of-the-art fitness center, swimming pool and Jacuzzi with a resort-style cabana, barbecues, clubhouse, covered and assigned parking and two modern laundry facilities.

 

Carlton Heights Villas stood as one of SENTRE’s several multi-family properties acquired during the past six years under the “SENTRE Living” brand, having been originally purchased by SENTRE for $7.9 million or $113,000 per unit in 2011.

Shawna James