LOS ANGELES-The historic Casa Laguna apartments have been acquired by Champion Real Estate Co., taking one of the last Arthur and Nina Zwebell multifamily properties off the market. Sales price was not disclosed.

The 18-unit building is located at 5200 Franklin Ave. in the Los Feliz section of the city. The building was completed in 1928 and is the final edition to a series of six Andalusian-style courtyard apartment buildings designed by the Zwebells.

The property features an interior courtyard with a central fountain, communal fireplace, and lush landscaping. All of the floor plans are unique, with some units including two-level units with 20-foot ceilings, exposed beams, fireplaces, chandeliers, huge private outdoor spaces, built-in book shelves, and private basements.

Casa Laguna benefits from the Mills Act tax abatement program, which provides for a real estate tax abatement in exchange for the property owners' agreement to preserve and maintain the property. Many Zwebell-designed properties were converted and sold as condominiums in recent years, making Casa Laguna one of the last of its kind. Institutional Property Advisors' Ron Harris' team represented the buyer and seller.

“Thanks to fantastic stewardship over the past 90 years, much of the interior finishes are original and in phenomenal condition, creating an awe-striking art piece of incredible detail,” said Alex Saunders, partner of Champion Saunders Multifamily.

"Zwebell designed properties are some of the most sought after investments in Los Angeles and typically sell for top dollar," said Robert Champion, president of Champion Real Estate Co. "We are confident that Casa Laguna will continue to increase in value, providing our firm with a significant return on our investment."

As previously reported by GlobeSt.com, Institutional Property Advisors arranged the sale of Empire Landing, a 276-unit apartment complex in Burbank.