NLZ Capital LLC has acquired a 20-unit, two-story, garden style apartment complex in Glendora, CA for $6 million. Cushman & Wakefield’s Mark Bridge and Jon Mitchell represented the private seller as part of a 1031 exchange. The buyer was represented by Eric Chen with CBRE.
“The property is well situated along a residential street with excellent curb in the Charter Oak neighborhood. We received over a dozen offers on the property and were able to secure an excellent above-ask offer of $306,250 per unit,” said Bridge in a news release.
The property consists of 16 two-bedroom and 4 one-bedroom units and is located just south of the 210 freeway at 710 Claraday St. All units offer washer and dryer hookups, individual HVAC units outside, gas ranges and granite countertops.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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