LA Apartments Acquires Westside Multifamily Portfolio For $30M

The multifamily property located at 11735 Culver Blvd., 11964 Lindblade St., 4316 Berryman Ave., 2712 Abbot Kinney Blvd., 711 & 715 Machado Drive & 450 S. Venice Blvd. was recently sold on the Westside market. The property consists of 99 units and was sold for a total price of $30,000,000, resulting in a per unit price of $303,030.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Units: 99
• Price per Unit (PPU): $303,030

The buyer in this transaction was LA Apartments. The deal was facilitated by brokers Kevin Green, Joseph Grabiec, and Greg Harris from Institutional Property Advisors, who represented LA Apartments. Additionally, Peter Castleton from Voit Real Estate Services was involved in the deal as well.