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Deal of the Week - Sale

Coastal apartments in LJ

Aaron Bove and Ben Tashakorian, vice presidents in Marcus & Millichap's San Diego office, had the exclusive listing to market the Deal of the Week for the seller.

Dave Plutner, of DP Properties, represented the buyer.

The deal was the sale of In Eden, a 17-unit, coastal apartment property at 600-616 Prospect St. in La Jolla for $8.95 million.

The buyers were Tofigh Khodapanah and Maryam Afzali, of La Jolla. The acquisition was financed with a loan of $4.25 million from Luther Burbank Savings. Chad O'Connor, vice president for Marcus & Millichap Capital Corp (MMCC), secured the financing.

The seller of the property was In Eden Properties LLC, with Macella M. Katz as the manager.

The property sales price is a record in price per unit and price per square feet for an apartment property in San Diego County, according to John Vorsheck, regional manager of Marcus & Millichap's San Diego office.

The apartment totals approximately 12,442 square feet and occupies a nearly one-third acre corner lot.

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