10/22/2008

Hendricks & Partners sells Pasadena apartments for $2.52M

by
Hendricks & Partners has finalized the $2.52 million sale of a 15-unit apartment complex in Pasadena, Calif., to Temple City-based A&J Apartments, LLC.

H&P's Kevin Lutz and Kevin Hurley represented the buyer in the deal. The seller, an entity operating as 350 Sierra Madre Apartments, LLC, was self-represented in the deal.

The apartments are located at 350 S. Sierra Madre Blvd. and sold with a 5.86 percent capitalization rate. Earlier this year, Hurley brokered the $12.99 million sale of the 74,471-square-foot Lanier Commons retail center in Cumming, Ga. Hurley represented Varner Properties, Inc., in the deal.

Address: 350 S. Sierra Madre Blvd., Pasadena, Calif.

Size: 15 units

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Filed Under: Multi-Family

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