The 33-unit Willow Creek Apartment Homes complex at 8410 Los Coches Road, El Cajon 92021, has been sold for $4,275,000.
The buyer was Willow Creek Partners, LLC, a California limited liability company, 7 Long Bay Drive, Newport Beach 92660. The managing members of Willow Creek are John Reinhardt and Gordon E. Reese.
The acquisition was financed with a loan of $3.15 million from Opus Bank.
The sellers of the property (assessor's parcel 400-380-25) were Bradley P. and Lori R. Jones.
The 33,096-square-foot apartment was constructed in 1987 on a 1.11-acre lot. The apartments consist of 12 two-bedroom/two-bathroom units of approximately 900 square feet and 21 three-bedroom/two-bathroom units of approximately 1,100 square feet.
Units include balconies, patios, washers and dryers. The property includes a swimming pool, spa and BBQ area, storage and elevator service.
The three-story property was sold in May 2004 for $4.6 million, with financing of $3.45 from Luther Burbank Savings.