All news Articles

 

 

Largest Multi-family Sale in Southern California Los Angeles Metro Area

Posted at: 2009-04-03

Mark Dobbs of Hanes Investment Realty, Inc. recently brokered the sale and purchase of Bradbury Park Apartments, a 112-unit multi-family property on 5.82 acres located in the San Gabriel Valley. The property sold for $16,240,000 and marked the largest multi-family transaction this year to date in the Southern California Los Angeles Metro Area (COMPS Inc.) and second largest for the San Gabriel Valley since August 2007.

The Bradbury Park Apartments are located at 2222 E. Huntington Drive in Duarte, CA. The property was built in 1979 and consists of eight two-story buildings with 101,707 square feet and a Unit Mix of: 20-Singles+1, 25-1BR+1’s, 52-2BR+2’s and 15-3BR+2’s.

The purchase was the newest addition to the Hanes Properties portfolio made up of mid to large size properties throughout San Gabriel and San Fernando Valleys.

Mark Dobbs represented both the seller: Bradbury Park Apartments LLC, Archstone Communities and buyer: Hanes – Bradbury LLC, Hanes Properties, H. Bruce Hanes - General Manager.

Hanes Apartment Advisor
Southern California rental market getting more expensive

Just Closed: 200 Units in Van Nuys, CA

Southern California rents are likely to remain flat, study says

Apartments can be good investment as more people rent

Downtown Forecast Sees Gloom and Recovery

L.A. council blocks rent freeze, triggering protests

Hunting for Cheap Flats

Tips for the potential apartment investor

Falling rents aid homeowners in mortgage trouble

Why you should ask for lower rent

Vacancies give renters room to negotiate

Commercial real estate market has space for small investors

Sour commercial real estate loans threaten to hurt regional banks

Study Forecasts Falling Apartment Rents

Largest Multi-family Sale in Southern California Los Angeles Metro Area

Apartment Values to Fall a Cumulative 32% from Year-End 2007 to 2010, PPR Forecasts

States with worst jobless rates share root causes

Housing downturn hits L.A.-area rents