CBRE Facilitates Sale of Multifamily Property in Temple City, California

CBRE facilitated the sale of a multifamily property at 5109 Tyler Avenue in Temple City, Calif., to Green Aokang LLC for $3.3 million.

CBRE’s Eric Chen represented the seller, August Associates LLC, in the transaction.

The property, which has not been sold in over 37 years, features 12 units with a mix of one- and two-bedroom units, averaging 700 sq. ft. The property has an on-site laundry facility and covered parking.

"This transaction highlights the strong demand for multifamily assets in Temple City," said Chen, executive vice president at CBRE. "We secured an all-cash offer, closing within 20 days and achieving a sale price of $100K over the asking price. The property's excellent unit mix and significant rental upside made it a highly attractive investment opportunity."

The community is centrally located near many local retail amenities like Albertsons, Sam’s Club, Vons, Home Depot, Chuze Fitness, In-N-Out, Starbucks and more.

“This property is in an unincorporated Los Angeles County area with limited rent control supervision. However, the buyer recognizes the long-term value of this location with the strong tenant,” added Chen.