Avison Young completes $4.675 million sale of 2.47 acres of land for 48-unit for-sale condominium development in Bell Gardens, CA

Avison Young completes $4.675 million sale of 2.47 acres of land for 48-unit for-sale condominium development in Bell Gardens, CA 22 Oct 2020

Irvine, CA – Avison Young announced today it has completed the $4.675 million sale of 2.47 acres of land located at 8000 Bell Gardens Avenue and 5500 Quinn Street, in Bell Gardens, CA. The site is fully entitled for Bell Gardens Townhomes, a seven-building, 48-unit for-sale residential project.

Avison Young’s Peter Hauser, Alan Pekarcik, Matt Hauser and Chris Smith in the company’s Irvine, CA office, represented the seller, a private investment partnership. The Avison Young team also represented the buyer, a local private developer who plans on beginning construction on the project immediately after the final map is approved.

“This is a significant sale in the Bell Gardens market,” said Peter Hauser. “Bell Gardens Townhomes will be the first new multifamily project in the city in many years and will provide much needed new housing to the residents in the area.”

He also pointed out that the majority of Bell Gardens’ housing product was developed in 1940s, 1950s and 1960s.

Near the 710 freeway, the project is a 10-mile drive to downtown Los Angeles. The gated community will feature a dog park, courtyard with BBQ, lush landscaping, and sitting areas.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.

www.avisonyoung.com

 

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For more information:

  • Darcie Giacchetto, Places Public Relations, 949.278.6224