Luxo II Apartment Homes Acquires 40-Unit Complex in San Diego for $21.3M

SAN DIEGO — Luxo II Apartment Homes has purchased Villa Cusma, a 40-unit apartment complex at 1907 Columbia St. in San Diego’s Little Italy neighborhood. The price was $21.3 million, more than $500,000 per unit.

Raymond Choi of Marcus & Millichap represented the seller, 1907 Columbia St. LLC, and procured the buyer in the all-cash transaction.

Built in 2012, Villa Cusma features 24 one-bedroom/one-bath apartments, one two-bedroom/one-bath unit and 15 two-bedroom/two-bath apartments. Additionally, the property features a a gated subterranean parking garage and a 2,475-square-foot, ground-floor retail space leased to Harumama, a sushi and ramen restaurant.