Colliers has facilitated the $34 million sale of The Madison, a 110-unit apartment community in El Cajon, CA. The firm’s Peter Scepanovic and Corey McHenry represented the buyer in the transaction, East Madison Avenue, LP and also represented the undisclosed seller.
The Madison is comprised of primarily one- and two-bedroom, 1 bath units with abundant parking. 60% of the property’s residences have undergone renovations, including plank flooring, stainless steel appliances, upgraded cabinetry and more. The complex is located along the I-8 Corridor in one of the region’s most diverse and vibrant communities.
“The San Diego Multifamily market continues to perform exceptionally well,” said Colliers’ Scepanovic. “Large suburban apartment properties like The Madison attract strong investor demand.”
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