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58-unit Apartment Sells for $5.9M

ALHAMBRA, CA-The 98% occupied Almansor Villa apartments was sold by Almansor Villa LP to Galssell, which plans to do approximately $300,000 in renovations to help push rents to market value.

By Peter Landau | Updated on June 04, 2002

ALHAMBRA, CA-Galssell LLC has bought the 58-unit Almansor Villa apartments located here. Almansor Villa LP sold the property. The transaction value was $5.9 million. The property had been listed at $6.1 million.

The Almansor Villa apartments are located at 333-433 Almansor St. here. The price per unit averages $101,724. The property was 98% occupied at the time of sale. The Almansor Villa apartments are approximately 50,000 sf and sit on a lot of 1.5 acres. The price per square foot on the deal figures out to around $118. The property sits on a 66,935-sf lot.

Galssell LLC is described as a “buy and hold” owner by the broker and plans to put significant renovations into the site, which has seen some neglect. The new owner plans to put in more than $5,000 per unit, or over $290,000 in total, to address termite damage, broken security gates, dry rot and other more cosmetic rehab.

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