Apartment complex sold

DOWNEY - Lakewood Apartments, a 40-unit apartment complex located at 11743 Lakewood Blvd., has been sold to the RIO Company, marking the second largest apartment transaction in Downey since January 2009.Officials with the RIO Company did not reveal the final sale price. The property was originally listed for $6.1 million. Constructed in 1969, Lakewood Apartments features large floor plans consisting of two one-bed, one-bath units; 26 two-bed, 1 1/2-bath townhouse units; six two-bed, 1 1/2-bath tri-level units; and six two-bed, two-bath units. The average unit size is 1,055 square feet, and the property rests on just over an acre of land. The property also includes a swimming pool, sundeck, recreation room, courtyard and on-site laundry room.

********** Published: March 3, 2011 - Volume 9 - Issue 46