Commercial Asset Advisors Facilitates Off-Market Acquisition of 28-Unit Multifamily in San Diego for $6.68 Million

SAN DIEGO, CA (June 25, 2026) – Commercial Asset Advisors (CAA) is pleased to announce the successful acquisition of Solstice Apartments, a 28-unit multifamily property located at 7240 El Cajon Boulevard, San Diego, CA 92115. The property closed on May 28, 2026, for $6,680,000, equating to approximately $238,571 per unit.

Commercial Asset Advisors exclusively represented the Buyer in the off-market transaction. The acquisition was led by Maxwell Brown, Senior Vice President – Multifamily Investment Sales.

The transaction highlights the continued demand for well-positioned multifamily assets in San Diego County, particularly opportunities offering operational upside and long-term value creation.

“After tracking ownership for nearly three years and sourcing the opportunity off-market, we secured an exceptional acquisition for our client with significant instant equity,” said Maxwell Brown, Senior Vice President – Multifamily Investment Sales at Commercial Asset Advisors. “The escrow was sourced with ten vacant units and delivered with only five vacant units, creating financing challenges that required a coordinated lease-up and stabilization effort during escrow. By increasing occupancy, rents, and improving operations prior to closing, we positioned the asset to qualify for attractive conventional financing while preserving maximum IRR and cash-on-cash returns.”

The acquisition offered notably above-market returns for San Diego multifamily investors, including a 6.41% in-place capitalization rate, an 8.19% projected stabilized capitalization rate, a 9.42 in-place GRM, and a 7.96 projected GRM.

Property Highlights:

• 28-unit multifamily community

• Sale price: $6,680,000

• $238,571 per unit acquisition basis

• 6.41% in-place cap rate

• 8.19% projected stabilized cap rate

• Primarily two-bedroom unit mix

• Fully renovated in 2014

• Minimal interior upgrades required to achieve current market rents

• Off-market acquisition sourced through a long-term ownership relationship

• Lease-up and stabilization completed during escrow

• Strategic location near San Diego State University and Interstate 8

Solstice Apartments benefits from strong demand drivers due to its proximity to San Diego State University, major transportation corridors, employment centers, and retail amenities throughout Central San Diego.

This transaction further demonstrates Commercial Asset Advisors’ ability to identify, source, and execute complex multifamily acquisitions while creating measurable value for clients through strategic market knowledge, operational expertise, and disciplined execution.

Commercial Asset Advisors is a leading commercial real estate brokerage firm specializing in multifamily, retail, office, and industrial investment sales throughout Southern California. The firm delivers strategic advisory services, market expertise, and client-focused solutions designed to maximize value and achieve long-term investment objectives.

For more information, or to request a complimentary property assessment, contact:

Maxwell Brown | Senior Vice President – Multifamily Investment Sales max@caacre.com | DRE Lic. # 02127395

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About Commercial Asset Advisors

Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,500 sale and lease transactions totaling over $1.5+ billion in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.