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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.