David Eagle of Grubb & Ellis tells GlobeSt.com that the property, which was 90% occupied at the time of the sale, was built in 1969 and was in excellent condition because it has been well maintained ever since.

The wood frame and stucco complex includes 13 one-bedroom, one-bath units measuring 753 sf, four two-bedroom, one-bath units of 923 sf each and five two-bedroom, two-bath units of 971 sf each. Rents range from $652 for the one-bedroom units to $775 for the two-bedroom, one-bath units and $790 for the larger two-bedroom units.

The complex is on the corner of West Ball Road and Webster Avenue, across from Magnolia High School, in "an area that features other well-kept apartment buildings that complement each other," Eagle says. The seller had renovated eight of the units in the past year, and the new owner is expected to move rents to market, he adds.