 |
| Michel Hibbert |
LOS ANGELES, CA, Feb. 27, 2013 – Charles Dunn Company, one of the largest full-service
regional real estate firms in the western United States, has completed the $4.7
million sale of a 14-unit multifamily property located at 11670 Chenault
Ave. in the Brentwood submarket of Los Angeles.
Michel Hibbert, CCIM, senior managing director with
Charles Dunn Company in the West Los Angeles office, represented the buyer, Los
Angeles-based Chena, LLC. The seller, was Los Angeles-based Schaefer Family
Trust.
The property includes eight one-bedroom/one-bathroom units,
five two-bedroom/two-bathroom units and one three-bedroom/one and three-quarter
bathroom unit.
“The property was 30 percent occupied at the close of
escrow,” said Hibbert. “With vacancy rates at just 3 percent in the Brentwood
area, the buyer recognized the opportunity to add value through renovating the
property which has some deferred maintenance and then leasing it at market
rents.”
Michel Hibbert has completed more than $500 million in
transactions over his career and has been one of Charles Dunn Company’s top
multifamily brokers year-over-year for the firm
For a complete
copy of the company’s news release, please contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
No comments:
Post a Comment