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• Whittier Apartment Community Sells for Over $30 Mil
9/06/23
Citrus Court, a 138-unit apartment community in Whittier, sold for $31.25 mil, or $226k/unit. The garden-style community, located at 8121 Broadway Ave, is encumbered by a 99-year ground lease with 41-years remaining.
Built i...
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• Culver City Mixed-Use Project Sells for Over $29 Mil
9/01/23
The Oliver, a mixed-use property with 30 multifamily units and 8.7k sf of ground-floor retail space in Culver City, recently traded hands for $29.25 mil, or $780k per unit. Built in 2016, the property is located at 11955 W. W...
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• ColRich Buys 228-Unit Res Property in Bend, OR
8/29/23
ColRich has purchased Seasons at Farmington Reserve, a 228-unit multifamily community in Bend, OR. The seller was Seattle-based Security Properties.
Located at 61560 Aaron Way, the garden-style community was built in 2017 an...
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• Oakland Apartment Trade Works Out to $242k/Unit
8/28/23
An apartment trade in Oakland consisting of two side-by-side twenty-four-unit apartment buildings came in at $11.65 mil, or $242.7k/unit. The properties, located at 237-263 41st St, offer a mix of one- and two-bedroom units.
...
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• JRK Property Holdings Pays $93 Mil for 300-Unit Multifamily Community in San Jose
8/28/23
JRK Property Holdings has acquired Duo Apartments, a 301-unit Class A multifamily community in San Jose, for $93.5 mil ($310k/unit). The purchase was financed with a loan for $62 mil.
Duo marks the third acquisition out of ...
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• Abacus Capital Group Makes $95 Mil Res Buy in Oregon
8/24/23
An affiliate of Abacus Capital Group purchased Lumina Apartments, a 440-unit multifamily community in Gresham, OR, for $96.7 mil ($220k/unit).
Located at 2700 W. Powell Blvd, Lumina was built in 1994 with unit renovations co...
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• High Barriers to Homeownership is Boosting Demand for High-End Apartments
8/21/23
This report provided by Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA), a division of Marcus & Millichap, has released its Class A Multifamily Outlook Midyear 2023 special report. The firm shared...
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• Community Preservation Partners Buys 44-Unit Affordable Housing Project in Palm Springs
8/18/23
CPP (Community Preservation Partners) acquired Sunnyview Villa, a 44-unit affordable housing property in Palm Springs. The community, located at 2950 N. Indian Canyon Rd in North Palm Springs near the historic Racquet Club We...
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• Work Wrapped Up on 296-Unit Res Project Near Downtown LA and USC
8/18/23
Cityview has completed work on Jasper, a 296-unit opportunity zone mixed-use project located less than two miles from downtown Los Angeles and adjacent to the University of Southern California. The highly amenitized, mixed-us...
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• MIG Real Estate Closes $61 Mil Res Buy in Orange County
8/17/23
In a notable OC multifamily buy, MIG Real Estate LLC purchased Newport Palms, a 138-unit apartment complex in Costa Mesa, for $61.1 mil ($443k/unit). According to MIG, this is the largest multifamily investment in the city in...
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• OC Four-Plex Goes for Nearly $400k/Unit
8/11/23
A four-unit multifamily property in Orange County sold for $1.59 mil ($397.5k/unit), in a deal that came in at 99% of the list price and $462 per square foot. The single-story property is located on a spacious 10.8k sf parcel...
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• National City Apartment Property Sells for $3.84 Mil
8/09/23
In a recent apartment sales comp out of San Diego County, a 16-unit multifamily property in National City sold for $3.836 mil, or $240k/unit. The property, located at 1019-1049 E Ave, consists of all one-bedroom/one-bath, 343...
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• KB Homes Buys former Starlite Drive-In in El Monte for $24 Mil
8/09/23
A 13.5-acre parcel of commercial land in the San Gabriel Valley city of El Monte sold for $24 mil. The buyer, Los Angeles-based KB Homes, a Fortune 500 national home builder, will use the property to construct up to 200 new h...
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• Local Investor Buys Eight-Unit Multifamily Property in Long Beach
8/08/23
A local private investor paid $2.65 mil for an eight-unit ($331k/unit) multifamily property located at 1206 Gladys Ave in Long Beach.
Built in 1986, 1206 Gladys Avenue features all two-bedroom, two-bathroom units with two h...
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• Costa Mesa Mixed-Use Investment Trades for $3.2 Mil
8/08/23
A 7.5k sf, mixed-use property in Costa Mesa traded hands in a $3.2 mil transaction. The property, comprising 12 residential apartment units and a street-front retail building, sold for $425 per square foot and $246.2k per uni...
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• Trion Properties Wraps Up $41 Mil CO Res Buy
8/04/23
Trion Properties has acquired Trailpoint on Highline, a 198-unit multifamily asset in Aurora, CO, for $41.1 mil ($209k/unit). According to Trion, their all-in basis is only $231k per unit, compared to the submarket average i...
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• Colorado Multifamily Comp Comes in at $100k/Unit
8/04/23
In a recent multifamily sales comp out of Colorado, Belmont Heights Apartments, a 36-unit multifamily community located in Pueblo, sold for $3.6 mil ($100k/unit). The City of Pueblo is approximately 45 miles south of Colorado...
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• CVG Properties Buys Build-to-Rent Community in Phoenix for $27 Mil
8/04/23
CVG Properties purchased Proximity Baseline, an 80-unit build-to-rent (BTR) property in Phoenix, for $27.2 mil in an off-market deal. The community, located at 1700 East Baseline Rd, was sold by Avenue North.
The detached an...
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• Investor Pays $252k/Unit for Fontana Apartment Building
8/02/23
A 25-unit multifamily community in Fontana sold for $6.3 mil, or $252k/unit.
Built in 1973, the property is located at 8919 Mango Ave. It offers a mix of one-bedroom, two-bedroom (townhouse-style), and three-bedroom floorpla...
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• Long Beach Multifamily Property Goes for $398k/Unit
8/02/23
Park Villa Apartment Homes, an 18-unit multifamily property located at 1761 Park Avenue in Long Beach, was purchased by an LA-based private investor for $7.165 mil ($398k/unit).
Built in 1963, the property includes four thre...
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