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| Ramin Gheitanchi |
LOS ANGELES, CA, Jan.
15, 2013 – Charles Dunn Company, one of the largest full-service regional real
estate firms in the western United States, has completed the $1.7 million sale
of a 10-unit multifamily property located at 476 Landfair Ave. in Los Angeles. The asset is well-located in Westwood
Village near UCLA and is the first multifamily property to sell in the
coveted Westwood Village area in more than a year.
Ramin Gheitanchi of Charles Dunn Company represented
the seller, Pearl Pinson Trust from Los Angeles, as well as the buyer, 476 JCE
Landfair LLC from Los Angeles.
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| 476 Landfair Avenue Apartments, Los Angeles, CA |
“Westwood Village apartment owners rarely sell as they obtain very high
rents and there is a high demand for rental units in the area due to its
proximity to UCLA," said Gheitanchi.
"This property had a lot of deferred maintenance and the
seller wanted to close escrow before the end of the year to pay less capital
gains tax.
“I was able to identify an all-cash buyer and
close escrow in just 17 days, right before the end of the year.”
The charming 7,091 square foot building was built in 1929
and is fully occupied. It includes eight studio units and two, one-bedroom
units with low monthly rents ranging from $552 to $1,000 for the singles and
$1,550 to $1,600 for the one-bedroom units.
For a complete copy of the company’s news release, please
contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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