In one deal, the two private individuals paid nearly $1.9 million for a one-building, 20-unit complex at 1416 N. Spurgeon St. Charlie Kennedy of Sperry Van Ness in Irvine represented the seller, Landmark Equity Partners, as well as the buyers. Built in 1978 of wood frame and stucco construction, the complex features 16 studio units and four one-bedroom, one-bath units, with rents ranging from $675 to $825. The complex features a laundry facility, covered parking, and enclosed garages.
In the second transaction, two private individuals bought a one-building, 20-unit complex at 317 S. Flower St. from a local private investor, with Kennedy representing both the buyer and the seller.
Built in 1984, the complex contains two one-bedroom, one-bath units and 18 studios with rents ranging from $650 to $825. Features include gated security, large private patios, covered parking, and laundry facilities.
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