In a 1031 exchange, a private investor from Gardena, Donald Shepherd, purchased the Downey Court Apartments at 7841-7861 Stewart and Gray Road in Downey from Atherton-Newport Investments for $10.23 million, or about $138,176 per unit. The capitalization rate was 5.5%, and the complex was fully leased at the time of the sale.
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7845 Stewart & Gray Rd, Downey, CA