Los Angeles Apartment Building Sells for $21.5 Million

  

Le Conte Westwood Village Apartments, 886 Hilgard Avenue
Westwood District, Los Angeles, CA

Tony Azzi

LOS ANGELES, Dec. 17, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Le Conte Westwood Village Apartments, a 60-unit apartment building in Los Angeles’s Westwood district. The sales price is $21.5 million.

            Tony Azzi, a senior vice president in Marcus & Millichap’s West Los Angeles office, represented both parties in the transaction.

            “The proactive marketing campaign we conducted for this property attracted buyers from throughout the investor spectrum,” says Azzi. “The resulting competitive bidding environment created excellent value for the seller.”

            “It is rare to find an asset of Le Conte Westwood Village Apartments’ vintage, quality and location on the market,” adds Azzi. “The property is extremely well positioned to capitalize on future growth.”

            The building is located at 886 Hilgard Ave. in Los Angeles at the northeast corner of Hilgard Avenue and Le Conte Avenue within walking distance of UCLA and the UCLA Medical Center. Interstate 405, shopping, restaurants, entertainment and prominent Los Angeles attractions such as the historical Fox Theater and the four-star W Los Angeles Hotel are nearby.

Fox Theater, Westwood Neighborhood, Los Angeles, CA

            Le Conte Westwood Village Apartments was built in 1976 and has been maintained by the original owner ever since.

 Every unit is equipped with a fireplace and each floor has two washers and dryers. 

Community amenities include two gated entry points, assigned gated parking, a swimming pool and a roof sundeck,

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

Gina Relva

Public Relations Manager

(925) 953-1716