$7.3M Acquisition Loan on a 50-Unit La Mesa Apartment Complex

The May 2026 deed of trust on the Crestview Apartments is the fourth JPMorgan Chase has recorded on this collateral. The bank recorded a $4,725,000 refinance in 2012, a $5,000,000 refinance in 2016, $7,250,000 in 2021, and now $7,300,000, executed May 14, 2026 and recorded May 22. Before that run, Washington Mutual recorded $4,460,000 in 2007. One institution or its predecessor has effectively held this asset's senior debt for nearly twenty years.

The loan accompanies a generational rather than market transfer: county records show title passing from one family trust to another in May 2026, with no sale price recorded. The building's own website lists Bob Cota Realty, Inc as manager. Nothing further about the parties is published, and nothing further is asserted.

Crestview is a 50 unit, two story complex at 4515 3rd Street in La Mesa, on 1.55 acres, built in 1970 per county records; rental listings state 1968, a conflict reported as recorded. The published unit mix runs one bedroom units of about 794 square feet asking from $1,875, two bedroom one bath units of about 850 square feet at $2,295, and two bedroom two bath units of about 980 square feet from $2,450, with utilities included and a pool, sauna, and laundry on site, per current rental listings.

The chain before the JPMorgan era tracks four decades of California multifamily lending: private party mortgages in 1985 and 1986, Home Savings of America at $1,650,000 in 1995, World Savings at $2,900,000 in 2002, and First Federal Bank of California on a 361 month structure in 2005. Recorded senior debt has stepped from $1,650,000 to $7,300,000 across thirty years.

J.P. Morgan is the most active lender in the tracked database, with 21 closings, five of them in San Diego County. Its published multifamily program offers term financing from $500,000 to over $25,000,000 on stabilized properties of five or more units, and it describes itself as the nation's largest multifamily lender. This loan ranks 13th of 25 tracked San Diego closings, in a remarkably tight band: $7,325,000 from J.P. Morgan in Carlsbad, $7,398,100 from CBRE Multifamily Capital in Chula Vista, $7,590,000 from Western Alliance Bank in Lakeside, and $7,850,000 from Genworth Life Insurance Company in Santee.

For families holding apartment assets across generations, this record is a template: a long tenured lender re underwrote the same collateral through a trust to trust transfer without a sale, at the largest loan amount in the property's history. Succession planning and refinancing are not separate conversations, and the recorded chain here shows them handled as one.