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SAN DIEGO — Arka Properties and Black Equities have completed the disposition of Lakeshore Villa Apartments, an affordable seniors housing property in San Diego’s San Carlos nieghborhood, to an undisclosed buyer for $47 million. Otto Ozen, Shawn Bolour and Jordan Pakzad of The Mogharebi Group represented the seller in the deal.
Located at 6888 Golfcrest Drive, Lakeshore Villa features two three-story buildings offering 126 one-bedroom/one-bath floor plans with an average unit size of 520 square feet.
Lakeshore Villa Apartments benefits from a 100 percent Senior HUD HAP Contract, ensuring stable income and long-term occupancy. The buyer plans to invest capital into the property and has committed to extending the affordability of the asset.