CBRE successfully facilitated the sale of two multifamily communities in the San Gabriel Valley, totaling 18 units. The first property, located at 1205 N. San Gabriel Ave. in Azusa and consisting of 10 units, sold for $2.67 million. The second property, located at 1015 Sunset Blvd. in Arcadia and comprising eight units, sold for $3.38 million.
According to CBRE Executive Vice President Eric Chen: “These two sales are a testament to the strong demand and growth potential within the San Gabriel Valley market.” He also noted that competitive offers were secured quickly during both transactions.
Chen worked alongside Justino Fa’aola to represent both buyer and seller in the Azusa sale which closed within just ten days of being listed with a cap rate of 4.08%. This well-maintained property was built in 1963 and features exclusively two-bedroom units that were sold at an average price of $266,500 per unit.
The Arcadia property was also built in 1963 but consists of a mix between two- and three-bedroom units.Chen represented onlythe sellerin this all-cash transaction which closed with an impressive cap rateof just3 .68%.
Overall,this successful sale showcasesthe high demandand potentialfor growthwithintheSanGabrielValleymarket,and highlightsCBRE’s abilityto securecompetitiveoffersand close deals efficiently.
