Family trust dumps L.A. multifamily space

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.

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