California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Alegre Apartments Brings Affordable Housing to Irvine!
It’s apparently not impossible to find affordable housing in Orange County.
In Irvine, for instance, some families are paying just $830 rent for a two-bedroom apartment at Alegre Apartments, despite the city’s average rent of more than $2,000 monthly.
Alegre Apartments was built two years ago by nonprofit developer Irvine Community Land Trust, which was established by the city to help meet a goal of 9,700 affordable residences.
Irvine officials hope this is a potential answer to the affordable housing puzzle that’s plagued Orange County for decades. Irvine is unique in the county as its builders require 15 percent of new development to be affordable to low-income residents.
Apartment buildings for sale
Check out the latest properties available on apartmentbuildings.com
Element Apartment Homes
Sunnyvale, CACalifornia & West + Apartment Buildings
Learn MoreListing Status: Available Price: $12,400,000 No. of Units: 26 Cap Rate: 4.71 GRM/GIM: 13.93 Year Built: 1963 Building Size: 19230 Sq ft Lot Size: 0.84 Acres No. of Stories: 2 APN: 161-17-013 No. of Parking Spots: 38 Opportunity Zone: No Price per unit: $476,923 3111 W Ramona
Alhambra, CACalifornia & West + Apartment Buildings
Learn MoreListing Status: Available Price: $3,700,000 No. of Units: 13 Cap Rate: 4.51 GRM/GIM: 12.89 Average Occupancy: 97 Year Built: 1954 Building Size: 11778 Sq ft Lot Size: 11253 Acres No. of Stories: 2 APN: 5352-013-007 Zoning Code: ALRPD No. of Parking Spots: 11 Opportunity Zone: No Buy Side Fee: $3 Price per unit: $284,615
