Private Investors Pay $18.7 Million for 48-Unit Villa Grande
Structure Property Management Group sold the Villa Grande Apartments at 7720 Crescent Ave. in Buena Park, California, for $18.7 million, or about $390,000 per unit, to a pair of private investors.
The 39,416-square-foot multifamily complex features upgraded one- and two-bedroom units, controlled access, a swimming pool, private balconies or patios, on-site laundry, and tuck-under, garage, carport and surface parking. It was 90% leased at the time of sale.
Villa Grande is located less than 1 mile from two regional shopping malls, Buena Park Place and Buena Park Downtown, as well as the Beach Boulevard retail and entertainment corridor.
Tyler Leeson, Michael Cavner and David Yeh of Marcus & Millichap represented the seller and were the sole brokers on the sale.
By Brian Kremer
Source: CoStar News