Lakeview Apartments in Lemoore has sold for $17.9 million.
Marcus & Millichap, a commercial real estate investment firm, announced the sale on Wednesday. The company represented seller B.A.G. Investments, Inc. in Beverly Hills and found the buyer, who was not identified.
“On the market for the first time in more than 20 years, Lakeview Apartments presents new ownership with a great opportunity to enhance value through interior and common area renovations,” said Jon Mimms, senior associate in the company’s Fresno office.
Mimms and Ron Harris, executive director of the firm’s Institutional Property Advisors division, worked on the deal.
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Lakeview was built in 1984 on 12.5 acres at 333 E. Cinnamon Drive, across from Cinnamon Elementary School and is a 15- to 20-minute drive from the Lemoore Naval Air Station.
The complex has a mix of studio, one- and two-bedroom apartments and two- to three-bedroom townhomes. The community surrounds a small lake and has three swimming pools, five laundry rooms and a basketball court.