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LA HABRA, CA-A private investor based in Southern California has paid $10.5 million for the 84-unit Rancho La Chiripa apartment complex in a deal with another locally based private investor, according to Marcus & Millichap, which brokered the sale out of its Ontario office in the Inland Empire. The property occupies a site with “tremendous frontage” on La Habra Boulevard at 2301 W. La Habra Blvd., according to Douglas McCauley and Stephen Novarro of Marcus & Millichap, who represented both parties in the transaction.

The Rancho La Chiripa location is next to a parcel slated for a new Costco store that is part of a redevelopment area, the brokers note. The building consists of 68 one-bedroom, one-bathroom units and 16 two-bedroom, one-bathroom units. Rents range from $850 to $1,095, with amenities including patios and balconies, a swimming pool, a laundry facility, a large lawn and a barbecue area, a secured entrance and ample parking.

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