A vacant 60,984-square-foot (1.4-acre) parcel at 7808 El Cajon Blvd., La Mesa 91942, has been sold for $1.2 million.
The buyer was Touchstone Villas La Mesa LLC, a California limited liability company, 10755 Scripps Poway Parkway, Suite 590, San Diego 92131. Touchstone Communities LLC is the manager of Touchstone Villas, and Kerry Garza is the manager of Touchstone Communities.
The seller of the property (assessor's parcels 470-100-14, 470-111-24, 25 and 30) was JACPH Properties of La Mesa LLC (85 percent) and the Chinese Evangelical Church of San Diego (15 percent). Hilbert Chu is the general manager of JACPH, and Dale Lieu is the head of Chinese Evengelical. JACPH took back a trust deed for $765,000, while Chinese Evangelical took back a trust deed for $135,000.
Vince Provenzano, Tommas Golia and Shirley Kanamu, of Pacific Coast Commercial, represented both the seller and the buyer. Escrow and Title services were provided by First American Title Company.
The property consists of five parcels zoned multi-family residential for 50 to 56 units.
Touchstone intends to entitle the property over the next 12 to 18 months, before beginning construction on an apartment.