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7/17/20
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A local investor paid $14.7 mil for Coral Reef, a 62-unit ($237k/unit) multifamily property in San Gabriel. The property, located at 5730 N. Willard Ave, was originally built in 1963 and sits on a 1.55-acre lot.
The 39k sf property is comprised primarily of two-bedroom units and features 81 parking spaces. Coral Reef’s community amenities include an on-site laundry facility, pool and clubhouse.
The property is within four miles of both I-10 and I-210, two major Southern California freeways that connect the San Gabriel Valley to the rest of Los Angeles County. Coral Reef is walking distance from San Gabriel Country Club and the numerous dining options on Rosemead Boulevard.
CBRE’s Priscilla Nee represented the buyer and the seller, a private local investor, in the deal.
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