A multifamily portfolio with 274 units in the San Gabriel Valley has sold for $68 million.

Positive Investments Inc. purchased the portfolio from the Hunsaker family. Lee & Associates’ Warren Berzack represented both parties in the sale, which was announced Jan. 13.

The buildings in the portfolio, which are located at 4405 Rosemead Blvd., 5123-5205 Rosemead Blvd., 4436-4438 Ivar St. and 3815 Baldwin Ave. in El Monte, are known as the Fashion Park Apartments, Glen Haven Apartments and Fashion Lane Apartments.

The properties have a combined size of 215,691 square feet and amenities such as swimming pools, clubhouses, secure entry and covered parking.

“The properties, all of which were in close proximity to each other, sold over ask with multiple offers in just three weeks,” Berzack said in a statement.  “This portfolio signals an extraordinarily strong demand for the multifamily market, particularly those that offer a value-add reposition play. There is also a limited quantity of large property types like this on the market. All of this, coupled with low-interest rates, excess liquidity and high demand, created a tremendous appetite for this portfolio.” 

Multifamily properties in the San Gabriel Valley and nearby Tri Cities market have seen a lot of interest from investors in the past year.

Toward the end of 2021, there were two big sales in Pomona. Century City-based Standard Communities, the housing division of Standard Cos., and West Hollywood-based Faring Property Group Inc. purchased Monterey Station, a 349-unit apartment complex in Pomona, from Clear Capital.com Inc. for $130 million.

Waterford Property Co. and California Statewide Communities Development Authority, meanwhile, purchased a 472-unit apartment community for $149.4 million with plans to turn it into middle-income housing.

In Pasadena, Waterford and California Statewide Communities Development Authority also purchased the 480-unit Westgate Apartments for $280 million and the 105-unit Theo for $67 million from Summerhill Apartment Communities. Both will become middle-income housing as well.

Also in Pasadena, Jonathan Rose Cos. purchased the 313-unit Kings Villages Apartments, an affordable housing complex, for $223 million and Century City-based Cityview and New York-based Clarion Partners bought the 276-unit Empire Landing for $161 million.