Manny and Dolores Margaretis bought the class C complex from Sigmund Newfield of Las Vegas. "This is a value-added opportunity," Brian Smuckler, an investment broker with Marcus & Millichap Real Estate Investment Brokerage Co.'s local office, says about the 1521 W. Denton Lane sale. He says the couple, eyeing some upgrades, secured acquisition financing from Chicago-based LaSalle Bank.

Smuckler tells GlobeSt.com that Goldcrest Apartments received five offers within one week of coming to market and sold for 100% of list price. "There were several full-price offers, but this buyer offered the quickest closing and better terms," he says. The three-building complex is a mix of one- and two-bedroom units with monthly rents of $475 and $575 in a blue-collar neighborhood.

Situated on 1.3 acres, the gated Goldcrest Apartments is comprised of 28 one-bedroom and 16 two-bedroom apartments. The asset, built in 1988, has amenities rarely found in older communities: vaulted ceilings, fireplaces plus washer and dryer hookups in every unit.