A 26-unit apartment complex near the beach in Encinitas has been sold for $13.12 million, according to a real estate brokerage.
Christopher J. Zorbas, an executive managing director at Marcus & Millichap, and Gary R. Weddle, first vice president with The Zorbas Group in Marcus & Millichap’s San Diego Del Mar office, represented the seller, the Kazandjian family, as well as the buyer, an affiliate of RAF Pacifica Group.
The Eucalyptus Apartments are located at 1201 N. Vulcan Ave. The sale represented the largest multifamily transaction in coastal Encinitas in more than 14 years.
According to a listing on Loop.net, the two-story complex, a quarter mile from the beach, was built in 1971 and is mostly comprised of two-bedroom units.
Marcus & Millchap is a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services.
