Charlie Kennedy of the Irvine office of Sperry Van Ness represented the buyers, both private investors. Kennedy also represented the sellers, also two private investors, who had owned the property since 1995. Kennedy notes that the complex was 100% occupied at the time of the sale, indicating the strong demand for apartments in the vicinity.
The Villa de Las Flores is a 19-unit complex at 510 South Flower St. in a location that Kennedy describes as "in the heart of Orange County." Built in 1979, the complex includes seven studio apartments, 10 one-bedroom, one-bathroom units and two two-bedroom, one-bath bathroom units with monthly rents ranging from $500 to $850. It is located close to the I-5 (Santa Ana) Freeway and features amenities including gated security, large private patios and newly refurbished decks.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.