LOS ANGELES—An Irvine-based private partnership has acquired two section-8 housing complexes, Cunningham Village and Jefferson Townhomes, for $12.2 million from a out-of-state private investor. The two complexes have a total of 65 units.
Located at 2300 S. Victoria Street in Los Angeles, Cunningham Village is the larger of the two properties with 35 units. Jefferson Townhomes, which is located at 1693 W Jefferson Blvd. in Los Angeles, has 30 units. Keller Williams Commercial SVPs Hirsch Sherman and Jared Levine represented the seller in the transaction.
Levine tells GlobeSt.com that the buyer plans to upgrade the property and the interior units. “The Irvine-based partnership is an entity dedicated to preserving affordable housing,” he adds. Levine did not know the buyer's specific renovation plans or the amount of capital they planned to invest in the property.
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Kelsi Maree Borland
