Located in the desirable Los Angeles market in the small community of Palms, Keystone Property has sold by Triqor Group’s Vice President of Investments, Chris Walker, for a closing price of $2,150,000, a cap rate of 6.3% and a GRM of 10.06. The 9-unit apartment complex was sold to Robert Nolan, an investor who quickly recognized the great opportunity of investing in a location with current rents being about 25% below market and in a neighborhood that is primarily apartment buildings, with approximately 92% of the population being renters. With its good selection of unit mixes including one, two and three bedrooms, as well as having key features including garage parking and balconies, the Keystone Property is highly attractive to a variety of tenants.

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