DEAL OF THE DAY: 52-Unit Rental Community Sold for $8.9M
- Apr 07, 2008
By Anuradha Kher, Online News EditorWestminster, Calif.–Hendricks & Partners recently arranged the sale of The Trask Apartments, a 52-unit community located at 7731 Trask Ave. in Westminster, Calif., for $8,900,000.The Trask Apartments, which comprises 13 buildings on 2.8 acres, features 36 two-bedroom units and 16 three-bedroom units with an average unit size of 1,021 sq. ft. The garden-style apartment community has a private, recently renovated pool area with outside shower, spacious leasing office, fitness center and laundry facility.The average monthly rents at closing were $1,306 for the two-bedroom units and $1,602 for the three-bedroom units.The seller was long-term owner, Trask Limited Partnership of Rohnert Park, Calif. and the buyer was Newport Beach, Calif.-based RMC/Tracy LLC.