The 75-unit complex stands at 510-522 S. Indian Hill Blvd. The buyer, a private partnership known as Indian Hill LLC, was represented by Sam Sant of locally based Independence Realty. The seller, private investor David C. Cook, was represented by Paul Marengo of Century 21 Real Estate.
The county's multifamily market continues to shine, despite a slowdown in the national economy and a statewide energy crisis. Occupancy levels have jumped from 97.4% to 98.1% over the past year, according to a recent report published by Cushman & Wakefield. In the Los Angeles Basin, there has been an increase of 12.5% in average rental rates over the past year.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
