Wednesday, March 13, 2013

Charles Dunn Company Completes $2.22 Million Sale of 12-Unit Property in Los Angeles, CA



Michel Hibbert
 LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2.22 million sale of a fully occupied 12-unit multifamily property located at 11292 Brookhaven Ave. in Los Angeles between Pico and National Blvd.

Michel Hibbert of Charles Dunn Company represented the Los Angeles-based seller, KWP Investments, LLC. The buyer was 11296 Brookhaven Investors, LLC from Los Angeles and was represented by Michael Irvine of Bulldog Realtors. The transaction closed at a cap rate of 5.2 percent. 

The property includes four studio units, four one-bedroom units, and four one-bedroom units and is situated close to the 405 and 10 freeways.

“The asset had been completely renovated which was attractive to the buyer,” said Hibbert.  “I advised the seller to bring rental rates up to market prices prior to putting the property on the market. Because of its stability, the seller was able to garner 100 percent of the asking price. “

Michael Irvine
Hibbert added that at $371 per square foot, the pricing on the asset is one of the highest for a comparable property in West Los Angeles.

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,
949.278.6224
D.G. Communications, Inc.

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