CBRE Arranges Sale of Multifamily Property in Los Angeles for $6.13 Million

CBRE announced the sale of a multifamily community in Glendora, Calif., to a local private buyer for $6.13 million.

CBRE’s Eric Chen represented the buyer in the transaction, and CBRE’s Ryan Wilkinson arranged financing on behalf of the buyer. The private seller was represented by an outside firm.

Located at 710 Claraday Street, the 20-unit community was originally constructed in 1964 on a 0.68-acre lot. The 16,178-sq.-ft. property features a unit mix comprised of two-bedroom, one-bathroom units and four one-bedroom, one-bathroom units. The two-story, garden-style complex is one mile from I-210, connecting Glendora to the rest of Southern California.

“This is a well-located asset with huge upgrade potential,” said Mr. Chen. “This sale also signals that in a changing market, there are still buyers actively looking to place capital for well-located multifamily properties.”