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620 South Virgil Avenue

Updated Jun 26, 2026

Alfred Pace Of Pacific Urban Investors Acquires 398-Unit Mixed-Use Property In Los Angeles For $139M
SOLDMixed-use

Alfred Pace Of Pacific Urban Investors Acquires 398-Unit Mixed-Use Property In Los Angeles For $139M

620 South Virgil Avenue

$139,000,000

Units

398

Asset Type

Mixed-use

Closing

Jun 24, 2026

About this deal

AI

The property involved in the transaction is a mixed-use asset located at 620 South Virgil Avenue in Los Angeles, CA. The property was sold for $139,000,000, with a total of 398 units, resulting in a per unit price of approximately $349,246. The sale is noted as one of the largest multifamily transactions in Los Angeles County for the year.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $139,000,000
  • Buyer: Alfred Pace - Pacific Urban Investors
  • Seller: Mark J. Parrell - Equity Residential
  • Units: 398
  • Price per Unit: $349,246
  • Market: Los Angeles, CA
  • NOTE: The acquisition represents a discount from the purchase price of $189 million paid by Equity Residential in 2019.

Alfred Pace represented Pacific Urban Investors in the acquisition, while Mark J. Parrell represented Equity Residential in the sale. This transaction underscores significant activity within the Los Angeles multifamily market.

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$139,000,000

Mixed-use

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Players

Alfred Pace

Pacific Urban Investors

Buyer

$1.4B

vol

14 deals

Buyer
Mark J. Parrell

Mark J. Parrell

Equity Residential

Seller

$996.9M

vol

9 deals

Seller
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Los Angeles Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $349.2K per unit across 398 units on a published $139M (2026).

Visit Mark J. Parrell to view all their deals.

Browse Los Angeles mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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