Cedar Hills Apartments sell for $14.5 million

The 113-unit community, constructed in 1966, has received interior makeovers.

The 113 units at the Cedar Hills Apartments have been refurbished to be brought up to date.
The 113 units at the Cedar Hills Apartments have been refurbished to be brought up to date.
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The Cedar Hills Apartments at 6756 103rd St. and 5435 Norde Drive sold April 6 for $14.5 million.

A joint venture of Westmount Square Capital and Miramar Capital sold the property through MW-Forest Apartments 1 LLC, MW-Forest Apartments 2 LLC and MW-Forest Apartments 3 LLC of Los Angeles.

The buyer was Jacksonville-based Peoples Choice Apartments LLC through JJTA23 Real Properties LLC.

The seller was represented by NAI Hallmark Senior Vice President John Rutherford and Vice President Luke McCann.

Built in 1966, the 113-unit community comprises eight buildings on 5.35 acres in West Jacksonville. The per-unit sale price is $128.318.

The units have been recently updated with new flooring, cabinets, stainless steel appliances, counter tops and refurbished bathrooms.

Amenities include a swimming pool, playground, laundry facilities and on-site management and maintenance.

The apartments offer studio- to three-bedroom units ranging from 450 to 1,100 square feet.

The apartments last sold in August 2021 for $9.2 million.

 

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