The development, which was 95% occupied at the time of the sale,was built in 1965 and underwent renovations in both 2001 and2002.
John Walsh of Marcus & Millichap, who represented both thebuyer and the seller, says the property consists of 14 wood-frameand stucco buildings of two-story walk-up design, with six to eightunits in each building. Walsh notes that the property featureslarge units and is not rent-controlled, and it enjoys extensivefrontage on Brookshire Avenue. The 112 units include 30one-bedroom, one-bath apartments that measure 650 to 750 sf andrent for $650 to $825; 42 two-bedroom, two-bath units of 870 to1,160 sf that rent for $861 to $1,175; and 40 three-bedroom,two-bath units of 1,100 to 1,450 sf that rent for $835 to$1,450.
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