SAN DIEGO, CA - In late May, a family trust with rental properties scattered around San Diego County bought a small apartment building on Bermuda Avenue in Ocean Beach, paying $4.23 million. Over the next few weeks, it bought three more properties, also built in the 1960s or 1970s, for a total of 34 units.

When the deal closed, the trust’s property management company, Coast West Properties, got to work, giving move-out notices to rent-paying, rule-abiding tenants in apartments tagged for renovation, scheduling contractors and posting listings for the spiffed-up units.

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