Xenon Investment Corp Purchases MultiFamily Property In Los Angeles For $21.3M

The Hollywood Regency Apartments is a multifamily property located at 1635-1639 N. Martel Ave in the West Hollywood submarket of Los Angeles. The property was sold for $21.3 million, which amounts to $355,000 per unit. Built in 1972, the four-story building comprises 67,329 square feet and contains 60 apartments. The property features an open-air courtyard, swimming pool, and 105 parking spaces. The units average 1,100 square feet, including a mix of 39 one-bedroom and 21 two-bedroom apartments.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $21,300,000.00
• Address: 1639 N Martel Ave, Los Angeles, CA
• Market: Los Angeles
• Square Footage: 67,329
• Buyer: Xenon Investment Corp
• Seller: Unknown
• Buyer's Representative: Matthew Kanner-Keller Williams

Matthew Kanner of The Kanner Group of KW Commercial represented the seller and buyer in this transaction, facilitating the deal between the private partnership selling the property and Xenon Investment Corp as the buyer.