Two multifamily properties totaling 60 units located on La Pat Place in Westminster, CA. The properties were purchased in May 2021 for $13,600,000 in an off-market transaction.

At the time of acquisition, the in-place rents were approximately $1,275/unit/month, which was substantially below market. Over a period of two years, Dunbar executed a comprehensive value-added program, which included both exterior / common area improvements and unit interior renovations to all 60 units. Upon completing the renovation program, Dunbar stabilized the assets with rents of approximately $2,075/unit/month. Dunbar sold one asset in March 2023 and the other in April 2024 for a combined $20,025,000.