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8/12/15
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The Bascom Group LLC has acquired Southtown at Main Apartments, a 44-unit apartment community with four retail tenant spaces in Santa Ana, for $8.55 mil. The property is located at 2140 South Main St, north of Warner Ave and west of the 55 Fwy. Bascom plans to make renovations to the interiors along with cosmetic exterior upgrades.
Built in 1988, the property has a unit mix comprised of 9% studios, 57% one-bedroom, and 34% two-bedroom units with fully equipped kitchens and patios or balconies. Southtown at Main also includes four ground-floor retail spaces totaling 6.8k sf.
The property is ideally located in central Santa Ana— residents are just minutes away retail, entertainment and employment. Southtown at Main Apartments is located 1.5 miles from the 55 Fwy, which connects residents to all of Orange County.
Peter Hauser and Shane Shafer with Berkadia brokered the transaction. Bascom financed the purchase with a loan provided by CTBC Bank.
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