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Downtown Multifamily Sale

Apartment Portfolio Sells For $2.18 Million
By Joseph Ayers
October 3, 2002 | 3:07 P.M.

California Financial Corp. acquired the two multifamily buildings at 1329 W. 5th St. and 1326 Maryland St. in Los Angeles. Combined, the two buildings are 33,000 square feet and consist of 70 units. Total consideration for the transaction was valued at $2.18 million, or approximately $31,000 per unit. The portfolio sale brought in 18 different offers before close of escrow. Charles Dunn Co.'s Albert Shilton represented California Financial Corp. and the seller, 5th Street & Maryland LTD.

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