"At $25,000 per door, it's well below the other comps that we're seeing," says John J. Griggs III, principal in Centaurus Investments of Hermosa Beach, CA. He and partner, Cross K. Moceri, scooped up the deed to Oakwood Village, a 38-building complex on nearly 12 acres at 2735 E. US Highway 80.

The partners say they plan to change the look of the class C complex's exterior, possibly the name too, to heighten curb appeal for the lengthy foothold along US Highway 80. "It will be mainly cosmetic. The buildings are in fairly good condition," Griggs says.

The 92%-leased Oakwood Village contains one- and two-bedroom units, averaging 735 sf. The average rent is $530 per month. "The property is operating very well," Griggs tells GlobeSt.com. "It's a true 8 cap." Devonshire Real Estate & Asset Management Group of Dallas has been hired as property overseer.