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| 1937 Pelham Avenue, West Los Angeles, CA |
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| Ramin Gheitanchi |
LOS ANGELES, CA, April 3, 2014 – Charles Dunn Company, one
of the largest full-service regional real estate firms in the western United
States, has completed the $2.7 million sale of a fully occupied, eight-unit
multifamily property located at 1937 Pelham Ave. in west Los Angeles.
Ramin Gheitanchi of Charles Dunn Company who
specializes in listing and selling multifamily properties in the prime Westside
market, represented the buyer, Chateau Pelham LLC, as well as the seller, 1937
Pelham LLC. The closing cap rate was 4.2 percent.
Built in 1961, the fully renovated property consists of four
one-bedroom units and four two-bedroom units. The well-located asset is near
Santa Monica Blvd. and is within the Westwood sub-market.
“The buyer owns other multifamily properties in the area and
wanted to expand his portfolio. With
such a low turnover of apartment buildings in the prime Westside market, this
was a rare opportunity for the buyer to acquire a luxuriously renovated turnkey
property that will appreciate in value as rents continue to rise in the local
area,” said Gheitanchi.
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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