According to Kevin Lutz and Robert Chui of Sperry Van Ness, the Jade Gardens Apartments is a one-building, wood frame and stucco structure that was built in 1964. It was 100% occupied at the time of the sale.
The complex consists of 22 one-bedroom, one-bathroom units that range in size from 430 to 565 sf, plus 56 two-bedroom, one-bath units that range from 785 sf to 1,075 sf. Rents range from $830 to $1,170.
Lutz notes that the property is in the middle of the San Gabriel Valley, close to the 10 and 710 freeways, an area that is popular with renters because it is convenient for commuting to jobs in many parts of Southern California. The single three-story building is a garden-style walk-up that overlooks a central courtyard of palm trees, a koi pond, a gated pool and barbeque areas.
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