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LONG BEACH, CA-Two private investors from Fountain Valley have purchased the 139-unit Windmill Creek apartment complex at 5555 Long Beach Blvd. from a Long Beach-based private trust for $12.5 million, according to Sperry Van Ness.

Charlie Kennedy of the Sperry Van Ness Irvine office describes the property as a one-building complex that is minutes from the Long Beach (Interstate 710) Freeway and the San Diego (Interstate 405) Freeway. Kennedy and Zak Show, also of the Sperry Van Ness Irvine office, represented the buyer. The seller was represented by Frank D’Avanzo of Sunwest Investments in Laguna Niguel.

Built in 1987, the complex is wood frame and stucco construction. Its 139 units include three single units; 78 one-bedroom, one-bathroom units; and 58 two bedroom, two-bath units. The singles measure 534 sf, the one-bedrooms 650 sf, and the two-bedrooms 905 sf. The complex is 95% occupied, with monthly rents ranging from $730 to $1,100.

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