Charles Dunn Company Completes $2.28 Million Sale of 13-Unit Multifamily Property in Los Angeles

Mercedes Villas, 1023 North Wilton Place, Central Hollywood area, 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 $2.28 million sale of Mercedes Villas.

The fully occupied, 13-unit non-rent controlled multifamily property is located near the 101 Freeway and the major cross street of Santa Monica Blvd. at 1023 N. Wilton Place in the central Hollywood area of Los Angeles.

Michel Hibbert of Charles Dunn Company represented seller, Resoma West, LLC from Los Angeles, as well as the all-cash buyer, National Ten Management, LLC also from Los Angeles. The closing cap rate was a low 3.5 percent.

Constructed in 1987 and situated on .21 acres of land, Mercedes Villas offers controlled access parking with 19 spaces, and a secured lobby. The building's unit mix includes 12, one-bedroom units as well as one, one-bedroom townhouse unit.

“The property garnered multiple offers and closed at an extremely low cap rate,” said Hibbert. “The buyer, who owns multiple properties close to this property, saw the opportunity to add value to the asset by bringing rents up to market value.” 

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224