The more than $146,000 per unit represents one of the highest prices per unit yet to be achieved in Whittier, Brian Hawkins of the Newport Beach office of Hendricks & Partners tells GlobeSt.com. Hawkins and Peter Hauser, also of the Newport Beach office of Hendricks & Partners, represented both the buyer and the seller, an affiliate of Lyon Capital, a subsidiary of the William Lyon Co.

Hawkins explains that the property was a repositioning and value-added play for the seller, which has completed extensive renovations to the complex since acquiring it in 1998. Lyon added washers and dryers, dishwashers and other improvements that represent unusual amenities for the area, along with other upgrades to the interior and exterior.

The complex consists of seven two-story wood frame and stucco with pitched roofs on a 5.1-acre parcel and was built in 1969. Its 116 units include 18 one-bedrooms and 98 two-bedrooms, with the one-bedrooms averaging approximately 900 sf and the two-bedrooms about 1,070 sf. The complex was 95% occupied at the time of the sale, with rents averaging $1,075 for the one-bedroom units and $1,320 for the two-bedrooms. Amenities at the complex include two pools, a Jacuzzi and spacious carports with storage.

The new owner acquired the property with proceeds from a 1031 Exchange following the sale of an apartment complex in Anaheim. Hawkins says the buyer was attracted to the complex both for its value as a 1031 Exchange and as "an attractive turn-key property that is one of the best in the market."