The 138-unit Chelsea Courtyards apartments in Arlington sold April 12 for $11.04 million.
Princeton Enterprises LLC of Bloomfield Hills, Michigan, sold the property at 2260 University Blvd. N. through Chelsea Owner LLC.
Atlanta-based Zavala Capital Group purchased the apartments through Cielo at University LLC and Cielo at University TIC LLC.
Sentinel Security Life Insurance Co. of Utah issued a $9 million mortgage April 12 to Zavala Capital Group.
Princeton Enterprises, a property management firm, bought the apartments in July 2013 from Green Realty Corp. for $4.2 million.
The community, built in 1964, is on 8.5 acres. The per-unit sales price is $80,000.
The property is south of River Road and north of Burdette Road near Jacksonville University.
The one-, two- and three-bedroom units are 625 to 1,000 square feet and monthly rents are $955 to $1,100 according to rent.com.
The apartments have walk-in closets, an eat-in kitchen, pantry and carpeted and tile floors.
There is a pool and business center.
Zavala is a real estate investment and management company. On its website, it says it owns or manages more than 5,400 units.
It owns the Cielo at Normandy apartments in West Jacksonville.