The 76-unit property, which stands at 1631 W. Pampas Lane, was completed in 1968. Known as Pampas Lane Apartments, it contains a mix of studios, one-bedroom and two-bedroom units. It was near full occupancy at the time of sale, with only five units vacant. Amenities here include a pool, laundry facilities, balconies, patios, carports, air conditioning and ceiling fans.
Catherine Rubenstein from Colliers Seeley International acted on behalf of the buyer, Kuve Ltd. of Bellflower. The seller, Los Angeles-based Woodman Realty Inc., was represented by Ken Morgan and Jay Skenderian of the Newport Beach office of Morgan Skenderian Investment Real Estate Group.
"The whole Orange County multifamily market in general has been pretty strong, since they haven't been building any class B or C product in the central and northern regions of the county," says Jay Skenderian. "There is a lack of housing here, but there is still job growth and people still need a place to live."
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