Avanath Capital Management, an investment firm that acquires, owns, renovates and operates affordable housing across the country, added another property to its portfolio in California, and its first in Orange County.
Originally built in 1959 in the town of Garden Grove, the target features 85 units in four stories. It is located adjacent to the Garden Grove Hospital and Medical Center, and that probably helps the property’s popularity, as it has been consistently 100% occupied. The seller, Los Angeles-based Meta Housing, originally developed the building but has now sold it for $19.85 million, or $233,500 per unit.
