X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-A private group has paid $5.6 million for an apartment complex in the Hollywood area, another sign that the area’s multifamily market remains strong even as investment in other types of income-producing property has slowed.

The project, Hollywood Vista Apartments, stands at 1413-1417 N. Vista St. It has 54 rental units.

The buyer is Brentwood Holdings Partners, a locally based private investment group. The property was sold by Hollywood Vista Apartments Ltd., a partnership that also is based in LA.

John Walsh of Marcus & Millichap Real Estate Investment Brokerage Co. represented both parties in the transaction.

Though sales of offices and most other types of income-producing property have slowed in lockstep with the economy, the number of apartment transactions has remained fairly steady. Analysts say the 2002 outlook for the multifamily sector is strong, largely because construction of new units still badly lags demand and few large parcels are available for development.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.