Built in 1961, the complex is located at 12561, 12591 and 12601 Shelly Dr. In all, the complex consists of three, two-level, eight-unit buildings, each sited on separate parcels that are not contiguous. However, two of the three buildings share a common courtyard. The new owner has no plans to rehab the properties, which were 100% occupied at the time of sale.
All of the complex's 24 units are one-bedroom apartments renting for between $600 and $700 per month. The complex features no amenities and has open parking for all tenants.
Shane McConnel of Marcus & Millichap's Irvine office represented the seller. John Mitchell and Bryan Ruane, both with the same office of Marcus & Millichap, represented the buyer in the transaction.
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