X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-A Los Angeles-based private investor has acquired a 16-unit apartment complex at 739 Croft Ave. from DONE Enterprises of Los Angeles for $2.5 million, according to Grubb & Ellis Co.

Barry Baker and David Lachoff in the West Los Angeles office of Grubb & Ellis represented the buyer and the seller. The wood-frame and stucco structure, which was 100% occupied at the time of the sale, was built in 1964. Its 16 units include nine two-bedroom, six one-bedroom and one three-bedroom units.

Monthly rents range from $700 to $1,050 for the one-bedroom units and $1,050 to $1,500 for the larger units. Baker tells GlobeSt.com that both the buyer and the seller were in 1031 Exchanges. The property, which features a swimming pool and a courtyard, is near La Cienega Boulevard and Melrose Avenue in a part of Los Angeles near the Beverly Center retail complex and close to Beverly Hills.

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.