NorthMarq’s Newport Beach office arranges the sale of 109 units in Alhambra, California

LUXE 1801

Debt & Equity

Multi-Tenant

NEWPORT BEACH, CALIFORNIA (May 19, 2021) – NorthMarq’s Shane Shafer, managing director – Investment Sales, and Quinn Breslin, associate – Newport Beach, completed the sale of LUXE 1801 in Alhambra, California. The apartment complex, located at 1801 West Garvey Avenue in Alhambra, contains 109 units and is within eight miles of Cal St. Los Angeles, USC’s Health Science Campus, and Downtown Los Angeles.

“The buyer recognized the exceptional location of the asset and the strong market fundamentals of the area,” said Shafer. “The average household income is over $100,000 and the opportunity to purchase a large asset in the highly coveted San Gabriel submarket interested the buyer. We are proud that the buyer and seller both achieved their business plans.”

The three-story property was constructed in 1972 and was recently underwent a comprehensive renovation program including the installation of stainless-steel appliances, vinyl flooring, and espresso shaker cabinets. Community amenities at LUXE 1801 include a pool, fitness center, game room, an outdoor fireplace lounge, and Amazon Lockers.

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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.