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Pair of Apartments Sell for Combined $4.1 Mil

LOS ANGELES-Anchor Pacifica Group pays $3 million for a 23-unit building in Arcadia, and Amusement Industry spends nearly $1.1 million for 28 units in Long Beach, as multifamily investment remains strong even as sales of other types of income-producing property falters.

By David W. Myers | Updated on December 11, 2001

LOS ANGELES-Two more apartment buildings have been sold to separate buyers in deals worth a combined $4.1 million, as multifamily investors continue to stay active in the county even as sales of other types of income-producing property slows.

In the largest of the two sales, Anchor Pacifica Group agreed to pay $3.01 million for a 23-unit apartment complex at 1150 Fairview Ave. in Arcadia. Anchor Pacifica is a privately held multifamily owner and manager headquartered in Pasadena.

The building was sold by Fairview 23, the California limited partnership that built the complex in 1972. A Colliers Seeley International team of Catherine Rubenstein and Richard Starratt represented both parties in the sale.

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