1/24/2008

Granite Investment places 88 units on the block for $17M

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Cypress Village Apartments

Granite Investment Group is placing the Cypress Village Apartments in Buena Park, Calif., on the block for $17.3 million.

Stewart Weston of Marcus & Millichap's Long Beach office is marketing the property on behalf of Granite Investment.

Built in 1962, Cypress Village is situated on 5.1 acres at 6343 Lincoln Ave. and contains 80,960 square feet. The apartment complex is comprised of 24 one-story buildings and is currently 98 percent occupied. The listing price represents $196,590 per unit with a 5.18 percent capitalization rate.

Address: 6343 Lincoln Ave., Buena Park, Calif.

Size: 88 units/80,960 square feet

Built: 1962

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Filed Under: Multi-Family

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