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NORTH HOLLYWOOD, CA-A private investor based in the Los Angeles area acquired the 101-unit La Nouvelle apartment complex for $10.4 million, or $102,970 per unit at a 6.7% cap rate, according to Marcus & Millichap.

The property is at 11657 Oxnard St. in the San Fernanco Valley and was built in 1991, according to Jeffrey J. Louks and Matthew R. Ziegler of Marcus & Millichap, who represented both the buyer and the seller. The seller was Oxnard-Hazelhurst Apartment Investors of Beverly Hills, Calif.

The La Nouvelle complex is near the Hollywood (170) Freeway and comprises 123,650 rentable sf on 1.25 acres. It includes 45 one-bedroom, one-bath units, 55 two-bedroom, two-bath units, and one three-bedroom, two-bath apartments. The units range in size from 750 to 1,080 sf. Rents range from $800 to $1,225 per month. At the time of the sale, the property was approximately 97% occupied.

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