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September 22, 2023
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LOS ANGELES COUNTY NEWS
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Three-Property Multifamily Portfolio in the San Gabriel Valley Gets a New Owner

8/23/22

A three-property, 116-unit multifamily portfolio in Azusa sold for $33.6 mil, or $290k/unit. All of the properties are located in a prime and fast-growing area close to downtown Asuza and Asuza Pacific University.

Each complex has a mix of one- and two-bedroom units averaging over 800 sf in size. The properties include amenities such as a community pool, laundry facilities, private patio/balconies, air conditioning, and covered parking. Additionally, they are all close to the 210 Fwy and public transportation.

The three multifamily properties included in the sale are:

The Riviera Apartments, a 36-unit property located at 1381 North San Gabriel Canyon Rd
Palm View Apartments, a 36-unit property located at 1311 North Azusa Ave
The Azusan Apartments, a 44-unit property located at 1345 North San Gabriel Ave

CBREs Eric Chen and Joyce Goldstein represented the buyer, Azusa 116 Assets LLC, and the sellers, Azusa Riviera Holdings LLC, Azusa Rainbow Holdings LLC and 1345 San Gabriel Holdings LLC, in the transaction.





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