The 72-unit complex is called the Val D'Amour Apartments and islocated at 854 S. Oxford Ave. in Koreatown. Brent Sprenkle, asenior vice president in the West Los Angeles office of Sperry VanNess Real Estate Services, tells GlobeSt.com that the sales priceof $7.52 million represented a record price per unit for a propertyof its type: 1920's construction, brick structure, no parking,master-metered and almost all studio apartments.

Sprenkle represented the seller, Los Angeles-based SebrenDevelopment Inc. He describes the complex as a a classic six-storyArt Deco property and a registered historic landmark. The ValD'Amour features 10 one-bedroom units with one bathroom, 50 studiounits with full kitchens and bathrooms and 12 efficiencies withkitchenettes and bathrooms. The property was 97% leased at the timeof the sale, with rents ranging from $480 to $1,395.

[IMGCAP(2)]The 70-unit property that sold was the WindsorVillage Apartments at 14211 Sherman Way in Van Nuys, which tradedfor $7.25 million in a deal brokered by the Harris Group of Marcus& Millichap. Executive vice president Greg Harris, who headsthe Harris Group, notes that, "In the middle of the transaction thecredit crisis hit, creating a major obstacle--a lack offinancing."