$14.4 million senior apartments sold near L.A.

Marcus & Millichap negotiated the sale of the Seasons Senior Apartments at Diamond Bar in Diamond Bar, Calif.

The value of the transaction was $14.4 million.

The 82,714-square-foot apartment building is located at 23750 Highland Valley Road. The community was constructed in 1989 and consists of 149 units situated on a 9.9-acre lot.

The community features a swimming pool, spa, barbecue facility, and an accessory building, which houses a professional management and leasing office, a central mail facility, and a recreational room with a full kitchen, fireplace, billiard room, TV lounge, and restrooms. There are two laundry rooms on the property. Parking facility includes both carports and open spaces with a total of 122 spaces.

A California-based investment group purchased the asset from a locally based private investor.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide.

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