A 12-unit residential project near Lincoln High School sold last month for $3.4 million, according to local realtors.
The project, located at 5406-5418 Imperial Ave. and built in 1973, consists of three adjacent properties of four units each. The plots each have a mix of one, two and three bedroom apartments ranging from 600 to 1,000 square feet.
The three parcels total 11,878 square feet of land with a total of 33 parking spaces.
Matt Monterroso from Business Asset Advisors represented the purchaser, the Charles Pick and Susan E. Pick Revocable Trust. The property is part of a Qualified Opportunity Zone, a designation that provides tax advantages for investing in low-income communities and neighboring areas.
“This unique residential project offers the buyer the opportunity to acquire secure, income-generating assets in a growing market,” Monterroso said.
The seller, Hari Vision Unlimited, LLC, was represented by Benn Vogelsang of South Coast Commercial.