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Ramhurst Apartments Close Escrow

27-Unit Complex Sells for $1.85 Million
By Michelle Modrich
April 9, 2002 | 7:20 P.M.

Escrow has closed on the Ramhurst Apartments, a 27-unit apartment complex located at 13926 Ramhurst Drive in La Mirada. Ramhurst Properties LLC purchased the 17,102-square-foot complex for $1.85 million, just over $68,518 per unit, at a 7.7 percent cap rate. Built in 1960, the property is comprised of 23 1-bedroom/1-bath units and four 2-bedroom/1-bath units. All units are individually metered for electricity and gas and feature garages, carports and a laundry facility. Jay Skenderian and Ken Morgan with Morgan-Skenderian Investment Real Estate Group represented the buyer and the seller, The Bronte Group LLC.

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