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4/28/21
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Galaxy Apartments, a 95-unit multifamily property in Gardena, was acquired by a local L.A.-area investor for $15.525 mil ($163.4k/unit). The property, located at 835 W. Rosecrans Ave, just east of Vermont Ave, was sold by another local investor.
Built in 1966, the three-story, 44.7k sf building is situated on 1.24 acres and features 37 studio units, 57 one-bedroom units and one two-bedroom unit. Some of the units have been remodeled and include laminate wood flooring, new kitchen cabinets, quartz countertops, and retiled bathrooms. The property also offers on-site amenities including a fitness center, outdoor courtyard with a pool and lounge/patio area, abundant foliage and flowers, fire pit, several barbeques and grills, and 88 parking spaces.
Located just west of the 110 freeway in the Harbor Gateway stretch of Los Angeles, The Galaxy is proximate to LAX, downtown Los Angeles, and the South Bay communities, and provides access to the 405, 105, 710 and 91 freeways.
Matthew Kanner with The Kanner Group of KW Commercial represented the seller in the transaction.
“This well-maintained asset garnered a significant amount of investor interest in the marketplace,” said Kanner. “Ultimately, this transaction marked the highest multifamily sale price ever within the 90247, 90248, and 90249 zip codes of the Gardena submarket, according to CoStar records.”
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