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10/27/20
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A local private developer paid $4.675 mil for 2.47 acres of land located at 8000 Bell Gardens Ave and 5500 Quinn St, in Bell Gardens, CA. The site is fully entitled for Bell Gardens Townhomes, a seven-building, 48-unit for-sale residential project.
Near the 710 Fwy, the project is a 10-mile drive to downtown Los Angeles. The planned community will feature a dog park, courtyard with BBQ, lush landscaping, and sitting areas.
Avison Young’s Peter Hauser, Alan Pekarcik, Matt Hauser and Chris Smith represented the buyer and the seller, a private investment partnership. The buyer plans on beginning construction on the project immediately, once the final map is approved.
According to Hauser, the development will be the first new multifamily project in the city in many years and will provide much needed new housing to the residents in the area.
He also pointed out that the majority of Bell Gardens’ housing product was developed in 1940s, 1950s and 1960s.
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