Investment Capital Real Estate Sells 18 Apartment Units in La Habra, CA.
Ignacio Diaz Jr. represented the seller in the purchase of the Bedford St. Apartments, an 18 unit apartment community in La Habra, California, Orange County. The purchase price was $2,000,000 Built in 1967, the property was 88 percent occupied at the time of sale.
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March 24, 2011 (FPRC) --IRVINE, CALIF. - Investment Capital Real Estate a multi-family advisory and brokerage services firm in Southern California, announced today that Ignacio Diaz Jr., President of Investment Capital Real Estate, represented the seller in the sale of an 18 unit apartment building in La Habra. The purchase price was
$2 Million.
The 18 units located in the county of Orange at 451 N. Bedford St., features a balanced unit mix of eight two bedroom one baths and ten one bedroom one baths, with individual water heaters and separate meters for gas and electricity. Rents on the building averaged $882 for a one bedroom and $1103 for the two bedrooms. Built in 1961, the two story building has 12,069 rentable square-feet on an 18,849 square-foot parcel.
“The buyer was able to take advantage of the current low, long term fixed rate financing available through Fannie Mae for multi-family assets,” said Ignacio Diaz Jr., President of Investment Capital Real Estate. “ The modest rents should allow the investor a sustainable income stream with realistic rent growth as the rental market recovers.”
The seller was a family trust based in Walnut Calif.
About Investment Capital Real Estate
Built on a solid foundation of performance, integrity, dedication and with investor satisfaction as the company's highest priority, Investment Capital Real Estate is a boutique Southern California multi-family advisory firm and brokerage with a proven track record of delivering first class service with superior results that consistently exceed client expectations. ICRE’s expertise, commitment and unwavering focus of putting the client's needs first have continued to set the company apart in the industry.
ICRE works closely with private investors, lending institutions, developers, and institutional property owners in every facet of a transaction to insure that the highest value is achieved through all investment objective levels. Clients rely on ICRE for valuation services, market information and multi-family property financing, dispositions and acquisitions. For more information, visit the Company’s website at www.investmentcapitalre.com or call 949-201-8817.
Send an email to Traci Goodrich of Investment Capital Real Estate
949-201-8817
Keywords:
Investment Capital Real Estate , Real Estate Brokerage, Orange County
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