Chopra says the buyers, Hensel Gardens Associates L.P., bought the 13-building, Cape Cod-style complex from California Safety Center Corp. of Montebello.
Chopra, who represented the buyer, says the property is near the 605 and 60 freeways, a popular location with renters because it provides ready access to many surrounding Southern California communities and is near retail and office centers.
The 256 units include 218 with two bedrooms and one bath. The rest are one-bedroom, one-bath units. The two-bedrooms measure 875 sf and the one-bedrooms 775 sf, with rents ranging from $675 to $775.
The wood frame and stucco complex was built in 1958 and was 99% occupied at the time of the sale. The sellers, who represented themselves, had owned it since 1958.
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