Thursday, July 23, 2015

Charles Dunn Company Completes Sale of Property for New Multifamily Project in Los Angeles, CA


Michel Hibbert
LOS ANGELES, CA, July 23, 2015 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $3,175,000 sale of a 6,789-square-foot retail property located on three lots at 6001 to 6011 W. Pico Blvd., in Los Angeles.

 Situated at a prime location near the 10 freeway, the buyer has plans for a new multifamily development.

Michel Hibbert of Charles Dunn Company represented buyer, Carthay Pacific, LLC from Los Angeles. The seller, 6001-6011 W. Pico Boulevard, LLC from Los Angeles was represented by David Aschkenasy of Commercial Asset Group.

“With rental units in demand throughout Los Angeles, the buyer plans to redevelop the asset which sits on 15,483 square feet of land into a 42-plus unit apartment property,” said Hibbert. “This up-and-coming Pico Boulevard/Crescent Heights neighborhood is an excellent submarket for new development because of the lack of luxury housing options.”

Hibbert noted that the retail property’s two retail tenants were on short term leases. Construction is anticipated to begin within 12 months with completion 36 months after construction commences. 

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

Darcie Giacchetto

949.278.6224

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