CBRE Arranges Sale of Three-Property Multifamily Portfolio in Azusa, California for $33.6M

by Amy Works

AZUSA, CALIF. — CBRE has brokered the sale of a three-property apartment portfolio in Azusa. Azusa Riviera Holdings LLC, Azusa Rainbow Holdings LLC and 1345 San Gabriel Holdings LLC sold the portfolio to Azusa 116 Assets LLC for $33.6 million.

Eric Chen and Joyce Goldstein of CBRE represented the seller and buyer in the transaction.

The three properties are:

  • The Riviera Apartments, a 36-unit property at 1381 N. San Gabriel Canyon Road
  • Palm View Apartments, a 36-unit community at 1311 N. Azusa Ave.
  • The Azusan Apartments, a 44-unit asset at 1345 N. San Gabriel Ave.

Each property has a mix of one- and two-bedroom units averaging more than 800 square feet per apartment. The properties include a community pools, laundry facilities, private patios/balconies, air conditioning and covered parking.

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