Local Investor Buys Starcrest Apartments In Arcadia For $9M

A 28-unit multifamily property known as the Starcrest Apartments in Arcadia has been sold for $9,000,000.00, marking the highest purchase price of any multifamily property in the city over the past year. The property, located at 942 Arcadia Ave, consists of a pair of two-story buildings constructed in 1959 and is in close proximity to the Santa Anita Racetrack and the Westfield Santa Anita Shopping Center.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $9,000,000.00
• Market: Arcadia
• Address: 942 Arcadia Ave, Arcadia, CA, 91007
• Buyer: Local Investor
• Buyer's Rep: Priscilla Nee (CBRE)
• Seller: Unknown

The property, Starcrest Apartments, was acquired by a local investor in Arcadia. The deal was facilitated by the buyer's representative, Priscilla Nee from CBRE. The transaction reflects the attractiveness of the multifamily property market in Arcadia, with this particular sale setting a new price benchmark in the city.