|
|
6/20/23
|
A private investor paid $10 mil for a 30-unit ($333k/unit) multifamily community in Westminster. The property, Courtyard Apartments at La Pat Place, is located at 13872 La Pat Place, north of Westminster Blvd on the east side of the 405 Fwy.
Courtyard Apartments at La Pat Place features a mix of studio, one-, two- and three-bedroom floor plans with private patios in select units. All 30 units were remodeled and part of the extensive renovations completed by the seller, totaling over $1 mil in improvements.
The property, built in 1963 on 40.6k sf, is within walking distance of shopping, parks, schools, entertainment and medical services. Behind Courtyard Apartments is Westminster Center with The Home Depot, Albertsons and Rite Aid, and 1.2 miles away is Westminster Mall. In addition, Westminster High School is just 1.1 miles away and Golden West College is 2.2 miles away.
Dan Blackwell and Andrew Boukather with CBRE represented the buyer and seller in this transaction.
According to Blackwell, the property has an in-place Ratio Utility Billing System (RUBS), where tenants pay for water and trash, and the property is individually metered for electricity, which reduces the landlord’s utility costs.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
