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by CareyBot

The sale of the Harbor Terrace Apartment community in Santa Ana, Calif., closed this week, with a limited liability company shelling out approximately $15.8 million for the asset. The Bascom Group LLC purchased property located at 1314 N. Harbor Blvd. from Donbev Prop II Ltd. The sales price represented $157,000 per unit. Harbor Terrace is a 100-unit apartment complex built in 1988 consisting of three two-story buildings. The property encompasses approximately 83,800 rentable square feet spread over two acres. The amenities at the property consist of a clubhouse, spa, swimming pool, ample garage parking, leasing office, laundry facilities, tot lot and a unit mix consisting of 80 percent two-bedroom/two-bathroom units. The investment provides Bascom with an "excellent opportunity ...