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1318 North Mansfield Avenue

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

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

1318 North Mansfield Avenue & 1229 North Mansfield Avenue

$22,950,000

Building Size

Asset Type

MultiFamily

Closing

Jul 1, 2025

AI

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.

Players

Kitty Wallace

Colliers

Broker

$759.8M

vol

23 deals

Broker
Colliers
ColliersBrokerage

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.69%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93