September 8, 2021 Carlsbad CA – Lee & Associates, a nationwide leader in commercial real estate services, announces the sale of a 542 unit apartment site on Los Alamos Rd in Murrieta CA. The sale was brokered by the Lee Land Team consisting of Matt Weaver, Al Apuzzo and Alex Bentley.
The property consists of 24.81 acres and is substantially mass graded. The 542 unit site consists of 2 phases.
“There is a lack of well-located multifamily sites in southwest Riverside County,” said Matt Weaver of Lee & Associates. “The buyer, an affiliate of Anton Dev Co., and Seller worked extremely hard to complete this transaction. The market has been excellent and we were able to capitalize,” said Weaver.
The property sold for $17,886,000. The Seller was Los Alamos Murrieta ASLI VII LLLP, an affiliate of Zephyr Partners and Avanti.