Known as Arroyo Villas, the newly acquired asset was originally built in 1979 as a condominium project. Currently operated as an apartment community, the 36-unit property was 87% leased at the time of sale. The unit mix here consists of 15 one-bedroom, one-bath floorplans encompassing 740 sf and 21 two-bedroom, two-bath designs encompassing 960 sf. The garden-style complex features a Jacuzzi, recreation facility, laundry rooms and decks; as well as extensive landscaping that includes a creek running through the grounds. The property stands on a 1.88-acre parcel located at 1060 Vale Terrace.
Jon Busse of Colliers International acted on behalf of both the buyer, Ying Min LLC, and the seller, Burlingame West.
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