Farther west, a six-unit apartment property has sold for $3.3 million as a development site, according to Team Lustig-Bower of CB Richard Ellis. Adrienne Herman of Team Lustig-Bower reports that Barry Blue LLC acquired the properties at 1621 & 1625 Barry Ave. from the Fine Family Trust and the Smith Family of Los Angeles. No plans or permits were in place at the time of sale of the site, which measures approximately 14,000 sf.
In another Sperry Van Ness transaction, a Los Angeles-based private investor bought an eight-unit apartment building at completes sale of apartment building at 8331-8335 1/2 Blackburn Ave. for $1.4 million. Sprenkle and Ted Zwicker of Sperry Van Ness in Los Angeles represented the seller, Los Angeles-based Blackburn LLC, with the buyer represented by Jason Frisch of Nelson Shelton & Associates. The complex, built in 1953, consists of five one-bedroom, one-bathroom units and three two-bedroom, one-bathroom units with rent ranges from $894 to $1,026. According to Sprenkle, properties in the area are rarely on the market and this particular building has not been on the market for 30 years. Additionally, the apartment building offers a possible development site for six to eight new condominiums.
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