The 34-unit MJ Cottages apartment property located at 330 Palomar Street in Chula Vista has sold for $5.525 million, according to Lou Bulte of Coldwell Banker Commercial (CBC), who represented the seller in the transaction. The purchase included a $3.025 million loan through Chase Commercial.
Constructed in 1988, the two-story, 35,700-square-foot property includes all two-bedroom, two-bath units with 17 of the units featuring lofts. The seller of the apartment property, assessor's parcel number 619-212-32-004, was Palomar Apartment Homes LP, of San Diego. The buyer of the property was the Recht Family Trust, of San Diego, represented by Ron Mazolla of Ron Mazolla Realty.