Lee & Associates LA North/ Ventura Inks Nearly $68 Million Multifamily Transaction

Three Building Multifamily Portfolio in Rosemead Sold In Less Than 3 Weeks
 
ROSEMEAD, Calif. - Jan. 13, 2022 - PRLog -- Lee & Associates LA North/Ventura's National Multifamily Director Warren Berzack, negotiated the sale of a three-building multifamily portfolio located in the San Gabriel Valley for approximately $68 million.

The portfolio, located at 4405 Rosemead Boulevard, 5123-5205 Rosemead Boulevard, 4436-4438 Ivar Street, and adjacent 3815 Baldwin Ave., in El Monte, spans the Fashion Park Apartments, Glen Haven Apartments, and Fashion Lane Apartments, respectively, with a combined building size of 215,691 square feet and a combined lot size of 363,144 square feet. The portfolio was sold by the Hunsaker Family to Positive Investments.

Located in the San Gabriel Valley with easy access to nearby 10 and 210 freeways along with metro access, the properties offer a mix of one, two, and three-bedroom units, and single-family residences. Additionally, the building's range of lush living amenities include swimming pools, club houses, secure entry, covered parking and carports, as well as plentiful area dining options, retail stores, schools, and recreational spaces, making its central location ideal for attracting tenants.

"The properties, all of which were in close proximity to each other, sold over ask with multiple offers in just three weeks," said Berzack, who represented both parties.  "This portfolio signals an extraordinarily strong demand for the multifamily market, particularly those that offer a value-add reposition play. There is also a limited quantity of large property types like this on the market.  All of this, coupled with low-interest rates, excess liquidity, and high demand, created a tremendous appetite for this portfolio."

For more information, visit lee-associates.com (http://www.lee-associates.com/).

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Tags:Multifamily
Industry:Real Estate
Location:Rosemead - California - United States
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