Big Apartment Deal Could Boost Investment Prospects in Eastern Suburbs

The $111 million sale of the 230-unit Jefferson La Mesa apartment property in La Mesa, California, set a per-unit price record topping $482,000 for the eastern San Diego suburb. The deal also could set the stage for rising valuations and future rent growth in what traditionally has been a low-profile area with generally lower prices than those fetched for properties in central San Diego.