Mehran Foroughi and Luis Vazquez of Sperry Van Ness in Irvine represented the seller, with the buyer's interests negotiated by Shari Baner of ReMax in Orange County. The 24-unit complex includes 21 one-bedroom units and three three-bedroom units. It was built in 1975 and had been owned by the seller for 16 years.
The 100%-leased complex has units that range from 725 sf for a one-bedroom design to 1,100 sf for three bedrooms. The monthly rents range from $1,200 to $1,850. All units feature fireplaces and balconies as well as a host of other amenities. The complex is near the 405 Freeway and Pacific Coast Highway, within walking distance to shopping and restaurants.
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