|
|
7/31/18
|
The Bascom Group LLC has acquired Island Apartments, a 78-unit apartment community located in Southeast Los Angeles, for $12.55 mil ($161k/unit). The community was constructed in 1957 and is located at 8222 Rosemead Blvd, east of I-5 and south of Slauson Ave in Pico Rivera.
Island Apartments is conveniently located near premier retail centers and entertainment venues. The 105, 710, 505 and 5 freeways are minutes away and provide residents convenient access to shopping, dining, and major employment centers throughout Orange County. Southeast Los Angeles is home to some of the largest employers in Southern California, including Kaiser Permanente, Los Angeles County Sheriff’s Department, Commerce Casino, Presbyterian Intercommunity Hospital, and El Rancho Unified School District.
Lee Nguyen, Senior Vice President of Bascom, comments “Our planned renovations will focus on modernizing the look and feel of the unit interiors. Simple enhancements such as contemporary lighting fixtures, appliances, countertops, and interior paint schemes are characteristics that today’s renters value. We look to position Island Apartments as an attractive community for the next decade.”
Mike Krantz of Brentwood Realty Partners brokered the transaction. Erich Pryor of Talonvest arranged $9.66 mil of debt financing through California Bank & Trust.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
