Janet Neman of the Dunn Co.'s West Los Angeles office, who represented both the buyer and the seller, describes the properties as "unique, 1920's art-deco style, buildings." The apartment complexes are at 1610 N. Normandie Ave., 1109 Lake Ave., 6434 Yucca Street, 205 N. Kenmore Ave., 1237 N. Edgemont St. and 4816 Fountain Ave.

Paul Daneshrad, CEO of StarPoint, says the new owners plan to remodel the lobbies, refinish the wood floors and upgrade the kitchens, bathrooms and electrical systems in the buildings. The goal is to boost occupancy to 99% within six months.

Constructed in 1925, the 1109 Lake Ave. building consists of 42 units that include 30 single units, eight one-bedroom and five retail stores. The 1237 N. Edgemont St. building was constructed in 1929 and includes 49 units consisting of two bachelors, 41 singles and six one-bedrooms. The 49-unit 6434 Yucca St. building has 13 bachelor units, 31 singles and five one-bedrooms, while the 205 N. Kenmore Ave. building consists of 31 single units. The 67-units at 1610 N. Normandie Ave. include three bachelor units, 60 singles and four one-bedrooms. The 60-unit 4816 Fountain Ave. building was constructed in 1927 and consists of 46 single units and 14 one-bedroom apartments.

The portfolio was 79% occupied at the time of the sale and the buildings had been owned by the seller for an average of approximately three years. StarPoint Properties LLC specializes in the acquisition, development and re-positioning of multifamily projects in regional markets throughout the nation. The firm, which has been involved in the multifamily market since 1994, currently operates a $150 million portfolio that includes more than 2,000 units and 1.5 million sf of living space. The firm focuses on targeting unique, yet under-performing, assets.