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HAWTHORNE, CA-Pan American Properties Inc. of Tustin has purchased the La Josetta Apartments, a one-building, 47-unit complex located at 4829 W. 120th St., from Torrance-based private investors for more than $3.5 million.

Aaron Fierstein of Sperry Van Ness in Los Angeles represented the sellers, with the buyer using an in-house executive Rich Hoegler to negotiate its terms. Fierstein says the final price of $75,000 per unit is among the highest paid to date for an apartment building of its vintage and unit mix in Hawthorne. Built in 1974 of wood frame and stucco construction, La Josetta Apartments features 13 studios, 32 one-bedroom and two two-bedroom units with monthly rents ranging from $470 to $860.

Located near the 405 Freeway and Inglewood Avenue, the property is within walking distance of premiere shopping and dining. The complex, which was 100% leased at sale time, includes a swimming pool, laundry facilities, parking and gated entry. The sellers had owned it for more than 10 years.

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