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Two San Gabriel Valley Apartment Properties Sell Quickly
CBRE facilitated the sale of two multifamily communities in the San Gabriel Valley totaling 18 units. The 10-unit 1205 N. San Gabriel Ave. in Azusa sold for $2.67 million, while the eight-unit 1015 Sunset Blvd. in Arcadia sold for $3.38 million.
“These two sales reflect the robust demand and growth potential in the San Gabriel Valley,” said CBRE EVP Eric Chen. “We were able to secure competitive offers and close the deal quickly.”
Chen and Justino Fa’aola represented both the buyer and seller in the Azusa transaction, which sold at a 4.08% cap rate within 10 days of listing. The property was built in 1963 and comprises only two-bedroom units sold at $266,500 per unit.
The Aracdia property also dates from 1963 and features a mix of two- and three-bedroom units. Chen represented the seller in the all-cash transaction for the well-maintained property at a 3.68% cap rate.
- ◦Sale/Acquisition
