Omninet Sells Two Hollywood Multifamily Properties For $22.95 Million With Kitty Wallace As The Broker

The multifamily properties involved in this transaction are located at 1229 & 1318 North Mansfield Avenue in the Los Angeles market. These two assets, known as Mansfield Terrace and Palms View, were sold for a combined total of $22,950,000. The properties consist of 68 units, resulting in a price per unit of $337,500. The portfolio was constructed in the late 1980s and is not subject to LA rent control.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,950,000
• Units: 68
• Price Per Unit: $337,500
• Seller: Omninet
• Broker: Kitty Wallace - Colliers
• Date of Transaction: 07/01/2025
• Market: Los Angeles

The properties were acquired by separate private buyers, who were drawn to the strong in-place cash flow and the long-term potential in the Hollywood market. Kitty Wallace represented the seller, Omninet, in these transactions, ensuring the properties were effectively marketed and sold.