Xenon Investments Corp. Acquires Multifamily Buildings In West Hollywood For $23.9M

The multifamily property located at 1253 Havenhurst Dr. & 1316-1322 Havenhurst Dr. in West Hollywood has been sold in a recent transaction. The property consists of 106 units with a total square footage of 56,062. The sale price for the property was $23,900,000, resulting in a price per unit of $225,471 and a price per square foot of $426. The cap rate for the property is reported to be 4.62% and 5.17%, indicating its potential return on investment.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $23,900,000
• Address: 1253 Havenhurst Dr. & 1316-1322 Havenhurst Dr., West Hollywood
• Market: West Hollywood
• Units: 106
• Price per Unit: $225,471
• Square Footage: 56,062
• Price per Square Foot: $426
• Cap Rates: 4.62% & 5.17%

The buyer of the property is Xenon Investments Corp. The transaction was facilitated by brokers Martin Ensbury, Mike Millea, and Nicholas Ensbury of The Ensbury Group, representing KW Commercial. The lender involved in the deal was Tyler Bradford of Convoy Capital.