Located at 13902-13040 Taft St., the 75,978-sf property on fiveacres was previously owned by Olive Tree Apartments LLC of Irvine.Containing a pool, spa, recreation room and one-car garages, theproperty consists entirely of one-story buildings with spacious,one-, two- and three-bedroom units.
Built in 1963, the buyer plans to hold the property long-termand will most likely do some rehabilitation on the propertyalthough, overall, the complex is in decent shape. "It was a cleandeal," says broker Jay Skenderian. "There aren't very many singlestory deals out there in the marketplace."
Brokers from Morgan Skenderian Investment Real Estate Group andInvestment Property Group both of Newport Beach co-listed theproperty and represented both the buyer and seller in thetransaction.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
