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HUNTINGTON PARK, Calif. — Coldwell Banker Commercial West has arranged the sale of Seville Gardens Apartment Community, a seniors housing property located at 2701 Randolph St. in Huntington Park.
Seville Gardens LLC sold the asset to Equity Consultants Equity Inc. for $33.7 million. The buyer plans to maintain the property as seniors housing.
Built in 1989, Seville Gardens features 225 apartments in a mix of 108 studios, 114 one-bedroom/one-bath and three two-bedroom/one-bath units.
The property is currently under a building covenant that mandates it be used as 55-plus housing with 20 percent of units rented to low-income tenants until 2038.
Tom Papoulias of Coldwell Banker Commercial West represented the seller in the transaction.