Charles Dunn Company Closes $2.82 Million Multifamily Sale
Torrance, CA – February 1, 2011 – (RealEstateRama) — Bryan Glenn of Charles Dunn Company’s West Los Angeles office has closed the sale of a 26-unit apartment complex at 9770 Beach St. in Bellflower. The value of the transaction is approximately $2.8 million.
Glenn represented the seller, a private trust, and RE/MAX Commercial & Investment Realty’s Enrique Viramontes represented the buyer, a private investor. The multifamily property, known as the Beach Apartments, was built in 1971 and is 96% leased.
According to Glenn, the seller sought to dissolve the trust and the buyer plans to hold the property for investment. “The buyer chose the property because of its prime location and well-maintained grounds with upside potential,” he said. “There were multiple offers on this property due to the lack of inventory in this area and ultimately, the buyer was drawn in by the high quality of the property and its attractive price per unit.”
About Charles Dunn Company
Charles Dunn Company is one of the largest full-service brokerage firms on the West Coast. Established in 1921, the Los Angeles-based company provides a full complement of real estate services. For more information and office locations, please visit www.charlesdunn.com.
