North San Diego County Completes the $1.15 Million Sale of Future Multi-Family Development Site

Posted by on Nov 2, 2016 in Blog | No Comments

NATIONAL CITY, CA—October 31, 2016

Lee & Associates, one of the largest national commercial real estate firms, has completed the sale of nearly one acre of vacant land in National City. The South San Diego County multi-family residential site, consists of two parcels located at 130 E 31st Street and 48 E 31st Street.

The buyer, KirE Homes II, LLC, purchased the site for $1,150,000 with plans to build and 31 unit apartment complex. According to its website, KirE Builders is one of the premier Southern California homebuilders, with highly regarded communities spread across San Diego County.

Matt Weaver, and Al Apuzzo of Lee & Associates – North San Diego County represented KirE homes II, LLC and the sellers, Pathfinder Raintree Residential, LLC and William Hancock.

“San Diego County is experiencing tremendous growth in the multi-family sector. With this growth, we are starting to get a lot more interest from developers looking to build multi-family residential properties. The sites offered an excellent addition to KirE Homes’ apartment portfolio,” stated Apuzzo.