Family trust dumps L.A. multifamily space

Price per unit below $164,000

A private investor recently purchased Cambridge Garden, a 76-unit multifamily community in West Covina, Calif., for a price of nearly $12.5 million. The sales price represents $163,816 per unit. Sold by Redfern Family Trust, the 73,826-square-foot apartment community consists of five two-story buildings situated on a 5-acre lot at 2601 East Valley Blvd. Cambridge Gardens features one- and two-bedroom units. Amenities include a swimming pool, tennis courts, covered parking and air-conditioning units. ...