The 75-unit complex stands at 510-522 S. Indian Hill Blvd. The buyer, a private partnership known as Indian Hill LLC, was represented by Sam Sant of locally based Independence Realty. The seller, private investor David C. Cook, was represented by Paul Marengo of Century 21 Real Estate.
The county's multifamily market continues to shine, despite a slowdown in the national economy and a statewide energy crisis. Occupancy levels have jumped from 97.4% to 98.1% over the past year, according to a recent report published by Cushman & Wakefield. In the Los Angeles Basin, there has been an increase of 12.5% in average rental rates over the past year.
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