Apartment Realty Group sells 8-unit Escondido value-add property

By AI, Created 11:00 PM UTC, May 19, 2026, /AGP/ – Apartment Realty Group broker Angelo La Bruna represented the buyer in the sale of an 8-unit multifamily property at 1019-1033 Chestnut Street in Escondido. The deal closed at $2.16 million and includes value-add, development, and ADU upside in one of San Diego County’s stronger rental markets.

Why it matters: - The sale adds another multifamily transaction in Escondido, where rental demand remains strong. - The property’s size, parcel structure, and upgrade potential give the buyer multiple paths to increase value. - The three separate parcels may support 30-year fixed residential financing, which can widen the pool of lending options.

What happened: - Angelo La Bruna, Senior Vice President at Apartment Realty Group, represented the buyer in the sale of an 8-unit value-add community in Escondido. - The property is located at 1019-1033 Chestnut Street, Escondido, CA 92025. - The final closing price was $2,160,000. - The source also described the transaction as a $2,610,000 trade.

The details: - The apartment community includes four 2-bedroom/1-bath units and four 1-bedroom/1-bath units. - The property sits on a 35,069-square-foot lot across three separate parcels. - Tenant amenities include an onsite laundry facility, ample off-street parking, and a common leisure area. - The property has upside in rental income, plus development and ADU potential.

Between the lines: - The three-parcel setup is a practical financing advantage, not just a structural detail. - The combination of income upside and development optionality makes the asset attractive to value-add buyers. - The two stated prices conflict, so the final closing figure appears to be $2,160,000 while the opening line cites $2,610,000. - La Bruna said he had not seen a property with more ways to add value and said he was excited to see how the buyer improves the asset.

What’s next: - The new owner is expected to pursue improvements that lift rents and overall property value. - ADU and development possibilities could shape the next phase of the asset’s repositioning. - The financing structure may influence how quickly the buyer can execute upgrades.

The bottom line: - This was a small Escondido multifamily sale with outsized repositioning potential.