SANTA MONICA, CA-A locally based private investor has acquired a six-unit apartment complex at 852 20th St. from another private investor for $422,500 per unit, or more than $2.5 million, according to Adrienne Herman of CB Richard Ellis’ Team Lustig-Bower, which brokered the transaction. The property was built in 1973 and consists of townhouse style with private patios, except for one unit. The property is north of Wilshire Boulevard and within walking distance of shops and restaurants on Montana Avenue.

The Santa Monica property was among three small complexes that sold recently, including two in Long Beach. In the first Long Beach deal, a private individual paid $1.4 million for a 13-unit complex at 47 Lime St., with Todd Vitzthum of Sperry Van Ness in Long Beach representing the seller, a Newport Beach-based private investor. Lori Quiett of Main Street Realtors represented the buyer. The property was built in 1926 and is located in what Vitzthum describes as a rapidly changing area of the South Bay. The 13 units include seven studio, five one-bedroom, one-bathroom units and one two-bedroom, two-bathroom unit with rents ranging from $625 to $1,050.

In the other transaction, a private individual bought a 12-unit complex at 433 West 4th St. for nearly $1.3 million, with Vitzthum representing the seller, a Long Beach-based private investor. Mike Lembeck of Century 21 represented the buyer, a Newport Beach-based private investor. The property was built in 1929 and is a three-building complex of 10 one-bedroom, one-bathroom units and two two-bedroom, two-bath units with rents ranging from $650 to $1,050.

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