The buyer was represented by Steve Lampe of Marcus & Millichap. The seller's side was brokered by Avi Ryzman and David Holstein, also with Marcus & Millichap.
According to Scott McClave, vice president of acquisitions for Bascom, Hawthorne offers affordable rents in an infill Los Angeles County location where apartments are in strong demand by renters seeking a short commute to the employment centers of Los Angeles International Airport and the South Bay.
McClave, who oversaw the purchase, says the four two-story buildings were developed in 1973. The 115 units include 24 studio apartments, 82 one-bedroom units, eight two-bedroom apartments and one three-bedroom apartment, with an average size of 608 sf. The property features a Spanish courtyard-style plan with a swimming pool, clubhouse, secured entry and parking, and onsite laundry facilities. The rents range from $600 to $1,100 per month. MacBeth Apartment Systems will be providing property management and renovation services.
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