 |
| 1210 Venice Boulevard, Venice, CA |
 |
| Michel Hibbert |
LOS ANGELES, CANov. 4, 2013 – Charles Dunn Company, one of
the largest full-service regional real estate firms in the western United
States, has completed the sale of a 50 percent interest in a 32-unit
multifamily property located at 1210 Venice Blvd. in the Venice
submarket of Los Angeles. The interest in the property was purchased for $3.5
million.
Michel Hibbert and Dan Johnson of Charles Dunn
Company represented the Palos Verdes, Calif.-based seller, Coastal Property, a
general partnership, as well as the buyer, Los Angeles-based Mastraili, LLC.
The transaction closed at a cap rate of 4.6 percent.
Built in 1988, the five-story property is situated on .28
acres of land and includes 12 one-bedroom/one-bathroom units and 20
two-bedroom/two-bathroom units.
 |
| Dan Johnson |
“The seller was motivated to end his 25-year partnership in
this property,” said Hibbert. “The property sold for a strong $218,750 per unit
and $241 per square foot.”
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