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A private family office has acquired a 23-unit, condo-mapped multifamily complex in Pasadena. The property is condo and traded hands between two private parties for $8.75 million or $380,000 per unit. A local family office purchased the property in a 1031-exchange and in an off-market deal.

Located at 168 N. Wilson Street, the complex was conceived and built as condominiums in 2005, but the owner converted the property into rental units. It features two-bedroom, two-bath units.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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