Known as the Melrose Gardens Apartments, the 42-unit property is located at 18881 Mora Kai Lane. It was purchased by Gilron Properties of West Los Angeles.

Richard Lee from Century 21 acted on behalf of Gilron Properties. The seller, Santa Monica-based 18881 Mora Kai LLC, was represented by Ken Morgan, Gran Hahn and Jay Skenderian in the Newport Beach office of Morgan Skenderian Investment Real Estate Group.

Very few multifamily transactions of this size have occurred in the county in recent weeks. The largest to be reported in March was the sale of an apartment complex in Garden Grove. The property, Cynthia Circle Apartments, was acquired by Granite Investment Group. The Irvine-based co-investment group paid $11.2 million for the complex. Located at 11050 Cynthia Circle, the 99-unit property was 95% occupied at the time of sale. It was sold by The Bascom Group of Irvine.