Tuesday, July 26, 2016

Charles Dunn Co. Completes $4.25 Million Sale of 22-Unit Apartment Property in East Hollywood Submarket of Los Angeles, CA

Bryan Glenn
LOS ANGELES, CA,  July 26, 2016 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $4.25 million sale of a fully occupied, non rent-controlled, 22-unit apartment property situated in East Hollywood at 3933 Marathon Street in Los Angeles.

Bryan Glenn, senior director with Charles Dunn Company, represented the seller, a private Los Angeles-based investment company who was in a 1031 exchange. Glenn also represented the buyer, a private partnership from Los Angeles. The closing cap rate was 3.25 percent and the price per unit was just over $193,000.

“This sale represented the tremendous demand for non rent-controlled multifamily product, coupled with investor confidence in this location. T

"he buyer plans to implement a comprehensive value-add strategy to improve the property and achieve strong market rents,” noted Glenn who also brokered two other apartment transactions in the Hollywood market over the last 30 days.

Glenn added that the property’s location in the Virgil Village neighborhood is becoming a hotspot due to its proximity to Silver Lake, the greater Hollywood area and Koreatown.

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto


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