Positive Investments Inc. has purchased an 86-unit community in Compton, Calif., for $12.5 million. Keller Williams Commercial Studio City worked on behalf of the buyer in the off-market transaction, and Sotheby’s International Realty represented the seller, a community-based 501(c)3 non-profit.
Located at 1515 E. Rosecrans Ave., the property is near the intersection of interstates 105 and 710, roughly 16 miles from downtown Los Angeles. The area offers various dining and shopping options. The Long Beach Plaza & Mini Mall is within a 10-minute walk of the property. The 79,373-square-foot community was built in 1986 and comprises a mix of one-, two-, three- and four-bedroom floorplans across 10 buildings. The property is currently vacant.
“This is the 10th property our client has acquired in this area in the past six months,” said Henry Garcia of Keller Williams Commercial Studio City, in prepared remarks. “Positive Investments plans to undertake a major capital improvement program to transform the asset into a hybrid housing community, which will include a mix of special needs, low-income Section 8 and market rate units.”
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