The sale price equates to $70.22 per sf. The project, built in 1976, is assessed at $9.15 million, according to county records reviewed by GlobeSt.com.
The building, located at 8851 E. Florida Ave., consists of 152 one-bedrooms units and 57 two-bedrooms units. It has four, three-story buildings with a playground, recreation room and two swimming pools.
The property has three experiencing housing assistance payment agreements. Typically, under a HAP agreement with HUD, low- and moderate-income tenants pay 30% of their income toward rent.Steve Rahe and Craig Stack of CB Richard Ellis represented Sundance Housing Associates.
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