X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.