REBusinessOnline

HENDRICKS & PARTNERS MANAGES $3.23 MILLION TRADE OF L.A. AREA APARTMENTS

SAN PEDRO, CALIF. — Hendricks & Partners has presided over the approximately $3.23 million sale of the 68-unit San Pedro Apartments, located at 123 West 12th Street, 1217 South Beacon Street and 1222 South Palos Verdes Street in San Pedro. Built in the 1950s, San Pedro Apartments consist of six buildings offering 44 one-bedroom/one-bathroom units and 24 efficiency units. Hendricks & Partners’ Brent Sprenkle represented both the buyer, Beacon Harbor View LLC, and the Los Angeles-based seller, CSS Realty Corp., in the semi-distressed transaction. The property was only 25 percent occupied at the time of the sale. Beacon Harbor View LLC plans on renovating it to maximize cash flow.

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