The seven-year loan has an interest rate of 3.35%.
Built in 1980, the 31,702 square-foot apartment complex at 415 Plymouth Drive has 34 apartments in a mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments.
Amenities include a pool, an outdoor courtyard, and private patios and balconies.
The financing was secured by Michael Derek, an executive managing director of Marcus & Millichap Capital Corp., and Nick Gray, a first vice president.
“Demand for well-located properties in California is high,” Derek said.