SoCal apartment building bought as investment

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

A 69-unit apartment building in South Gate, Calif., has changed hands in a $7.2 million deal. The buyer was AMCAL Management Inc., represented by Sperry Van Ness. Kosmont Realty Corp. represented the receivership in the sale. The property is located at 8633 California Ave., in South Gate. The three-story, Mediterranean-style apartment building was purchased as an investment, according to the buyer's representation. The building is situated across from City Hall and has a recreation room, 3,000 square feet of retail space and ground-floor parking. Send feedback or a letter to the editor to opinion@inman.com....