Tuesday, January 15, 2013

Charles Dunn Completes First Westwood Village Multifamily Property Sale in Over 12 Months


  
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.

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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