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November 17, 2019
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MULTIFAMILY NEWS
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Multifamily Property in CAs El Centro Goes for $80k/Unit

9/05/19

A 49-unit complex in El Centro, CA sold for $3.92 mil or $80k/unit. The 38.6k sf property, situated on a 68.4k sf lot at 480 Aurora Dr. is known as the Aurora Apartments.

The property boasts a unit mix consisting of one studio, six one-bedroom/one-bath units, 22 two-bedroom/one-bath units, 17 three-bedroom/two-bath units and three four-bedroom/two-bath units. In addition, the location has 75 open parking spaces as well as to abundant street parking.

Built in 1971, Aurora Apartments has one swimming pool and one laundry facility onsite. A portion of the interiors have been fully and partially upgraded. The property consists of one garden-style apartment building.

The property has an interior grass courtyard area and a portion of the apartments have patios or balconies. Also, the utilities are separately metered. The property is conveniently located within a short distance from several retail spaces, restaurants, and entertainment venues.

The buyer, Kenwood LLC, was represented by Ricardo Lopez of ACI Apartments. The seller, El Centro Property LLC, was repped by Peter Hauser of Avison Young.





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