Paul C. Krikorian of Dunn's West Los Angeles office represented the buyer, with Purdue Avenue Development representing itself. Krikorian says the property is in a quiet residential neighborhood near the 405 Freeway, with ample parking, pool, elevator and a number of other features.

The one-building complex of wood frame and stucco construction was built in 1965. It consists of 21 one-bedroom units plus three two-bedroom, two-bath units. The apartments average 722 sf in size; all but one of the units were occupied at the time of the sale. The one-bedroom apartments rent for $675 to $1,325 per month, with the two-bedrooms renting for $889 to $1,700 monthly. The seller had owned the property since 1999.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.