Gregory A. & Shirley L. Libeu utilized a 1031 tax exchange to acquire the Villa Espanola Apartments at 1906 K Street in San Diego, CA. The buyers bought the 30-units for $2.1 million, roughly $70,300-per-unit. The property was built in the 1920's and was completely renovated in 2000. It is comprised of 30 one-bed/one-bath units. Rod Taylor of CIS Investments represented the buyers. David Le Beau of Sperry Van Ness represented the seller, Equity Alliance.