|
|
10/05/21
|
A 20-unit apartment building in Downey traded hands for $5.7 mil, which works out to $285k per unit. Both parties were private investors.
Located at 7348-7350 Florence Ave, the property features all two-bedroom/one-bathroom units. It is situated near Downey Landing, Promenade at Downey, Stonewood Mall, Kaiser Permanente Medical Center, Columbia Space Center and Cerritos College. The building is also near the 605, 105, 710, and 5 Freeways.
CBRE’s Priscilla Nee, Dan Blackwell and Sean Farag represented the 1031 exchange seller, who is buying a replacement property in Arizona. According to Nee, the property sold for $200k above the asking price and received multiple offers.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
