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• Long Beach Multifamily Property Sells for $275k/Unit
5/24/17
Cherry Avenue Apartments, a 12-unit apartment property within the Retro Row neighborhood of downtown Long Beach, traded hands at a price of $3.3 mil ($275k/unit). The buyer was a private investor from Palos Verdes.
Built in ...
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• San Diego Res Property Trades for $12 Mil
5/24/17
Hampton Court, a 43-unit multifamily community in San Diego, has sold for $12.04 mil, or $280k/unit. The complex is located at 4526 Illinois St, within walking distance to popular restaurants and nightlife in North Park and N...
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• Oakland Multifamily Property from 1964 Goes for $237k/Unit
5/23/17
A 16-unit multifamily in the prominent Piedmont/Grand Lake area of Oakland sold for $3.8 mil, or $237.5k/unit. The property, located at 3779 Harrison St, includes a penthouse unit.
Built in 1964, the property contains 15 two...
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• Private Investor Pays $242k/Unit for Santa Ana Residential Building
5/23/17
NNC Apartment Ventures LLC has acquired Broadway Apartments, a 21-unit multifamily property in Santa Ana, for $5.075 mil ($242k/unit). This is the first time the building has been sold since it was built in 1987.
The propert...
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• Sares Regis Group of Northern California Starts Work on South San Francisco Res Project
5/19/17
Sares Regis Group of Northern California (SRGNC) has broken ground on Cadence, a 260-unit, luxury apartment development in South San Francisco. The 225k sf project, situated on just under two acres over two blocks at 398, 400...
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• Shopoff Realty Investments Spends $52 Mil on LA Area Manufactured Housing Community
5/19/17
Shopoff Realty Investments has acquired a 45.89-acre manufactured housing community in the San Gabriel Valley city of El Monte for $52.7 mil. The property is located at 12700 Elliott Ave, west of I-605 about midway between I-...
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• Gelt Inc Forms New Mobile Home Venture
5/18/17
Gelt Inc has formed a new business venture, Happy Home Communities (HHC), which will focus exclusively on the acquisition and management of mobile home and RV resorts throughout the Western United States. HHC will be led by E...
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• Hollywood Res Project Lands $100 Mil in Construction Money
5/18/17
Rescore Property Corp has obtained $100 mil in construction financing for The Rise Hollywood, a 368-unit, seven-story apartment project in Hollywood. The project is located at 1331 North Cahuenga Blvd, within the Hollywood En...
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• CA Homes Sales Drop in April While Prices Continue to Climb
5/17/17
Following a strong first quarter start, California home sales lost momentum in April, while the median home price accelerated to a near-10-year high, according to the latest data from the California Association of Realtors® (...
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• Residential Development Site in Ontario Sells for $3.4 Mil
5/17/17
A 3.47-acre residential development land site in Ontario sold for $3.39 mil, or $976.5k/acre. The entitled project, consisting of 57 units, is known as Euclid Townhomes.
The planned units range in size from 800 sf to 2.3k s...
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• Legacy Partners to Completely Renovate a 209-Unit Res Property in West Covina
5/16/17
Legacy Partners is about to undertake a complete renovation of The Verandas, a 209-unit, 180k sf apartment community in West Covina. Legacy Partners, who has owned and managed the property since 2007, recently received Depart...
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• Long Beach Apartment Property Sells for $456k/Unit
5/16/17
Bay Shore Apartments, a nine-unit apartment property adjacent to the Belmont Shore neighborhood of Long Beach, was purchased for $4.1 mil by a private investor from Los Angeles. The property closed at a 3.8 percent cap rate a...
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• Investor Picks Up Hollywood Apartment Property for $174k/Unit
5/15/17
An L.A.based limited partnership paid $6.25 mil for Carlton Canyon Apartments, a 36-unit ($173.6k/unit) multifamily property in Hollywood. The asset, located at 5826 Carlton Way, south of Hollywood Blvd on the west side of th...
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• Investor Pays Over $12 Mil for Two NoCal Multifamily Properties in Fairfield
5/15/17
Coco Palms and The Orient Apartments, two low-rise, garden communities totaling 125 units in the NoCal city of Fairfield, have sold for $12.2 mil ($97.6k/unit). The properties were acquired by Riaz Capital, a multifamily inve...
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• SummerHill Apartment Communities Wrapping Up Work on New Santa Clara Community
5/15/17
Villas on the Boulevard, a new 186-unit luxury residential rental community in Santa Clara, is about to be completed. The project, located at at 2615 East El Camino Real, is a development of SummerHill Apartment Communities.
...
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• San Diego Apartment Complex Sells for $232 Mil
5/12/17
In one of the largest apartment sales out of San Diego County in some time, American Assets Trust Inc purchased Pacific Ridge, a 533-unit property, for $232 mil, or $435k/unit. Built in 2013, Pacific Ridge is located at 5945 ...
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• Oceanside Res Community Trades for $220k/Unit
5/12/17
Pacific Urban Residential LLC recently purchased Rancho Tuscana, a 136-unit multifamily community in Oceanside, for $30 mil ($221k/unit) in an off-market deal. The property has a condo map and could be sold as individual unit...
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• Portland on the Park Opens 72% Sold
5/12/17
Portland on the Park, a 149-unit residential condo development in downtown Portland, is finished, with residents taking occupancy of their units. The project, Phase II of the completed Portland Place project, is a development...
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• Harridge Development Group Acquires Inglewood Property Approved for 310 Homes
5/11/17
Los Angeles-based Harridge Development Group has acquired Grace Park, a fully approved, 18-acre master-planned community entitled for 310 for-sale homes near the new NFL stadium development in the city of Inglewood. Harridge ...
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• L.A. Investor Pays $452k/Unit for Santa Monica Apartment Property
5/11/17
A six-unit apartment property in Santa Monica sold for $2.75 mil, or nearly $452k/unit. The property, located at 2728 Arizona Ave, sits on a large corner unit one block south of Wilshire Blvd.
Built in 1947, the two-story p...
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