**Grandview Escondido Sells for $7.2M, Setting Near-Record Price Per Unit**
Newmark has announced the sale of Grandview Escondido, a newly constructed, 15-unit multifamily property located at 1316 East Grand Avenue in Escondido, California. The 13,421-square-foot complex was sold for $7,225,000—achieving the second-highest price per unit ever recorded in the city, according to Newmark.
The transaction was brokered by Erik Anderson, senior managing director at Newmark, and associate Tanner Harris, who represented the seller, La Caze Development. The buyer, a local high-net-worth individual, was represented by Andy Brikho of Brik Home Loans.
“Grandview Escondido commanded rents and a basis significantly higher than comparable properties in the market,” said Anderson. “The exceptional quality of the project and La Caze Development’s meticulous execution validated the strong rental rates, making this a compelling opportunity for the buyer.”
Fully occupied at the time of sale, the luxury property features upscale finishes including quartz countertops, hardwood LVP flooring, soft-close cabinetry, and dimmable LED lighting. The location also offers convenient access to major transportation corridors such as Interstate 15 and Highway 78, along with proximity to a range of high-quality retail amenities.
