The Lanai Village apartment complex in Sring Valley, California recently sold for approximately $10.8 million.
The buyer was Twelve Management Group, LLC.
The property was built in 1965 is 32,944-square-feet with 48 apartments – 26 one-bedroom, one-bathroom apartments, and 22 two-bedroom, two-bathroom apartments and is located at 8914-8926 Delrose Ave.
Apartment amenities include a courtyard and pool, gated entry, two laundry rooms, and off-street parking.
Representing both the buyer and seller was Aaron Bove, a senior vice president of investments of Marcus & Millichap.
About the author
Maurice Bedard
Chief Inspector & Owner · CCPI, CMI, CMR
Maurice Bedard is the chief inspector and owner of U.S. Commercial Building Inspections, a Certified Commercial Property Inspector with more than 25 years in commercial real estate, construction, restoration and remediation across Southern California. He has personally inspected office, retail, industrial, multifamily and institutional buildings for buyers, owners, brokers and lenders throughout San Diego, Orange, Los Angeles, Riverside and San Bernardino Counties.
Written and reviewed by Maurice Bedard · Published June 3, 2021 · Updated June 17, 2023
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