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| Janet Neman |
LOS ANGELES, CA, Aug. 17,
2015 – Charles Dunn Company, one of the largest full-service regional real
estate firms in the western United States, has completed the $2.65 million sale
of a non-rent controlled, eight-unit multifamily property located at 6123
Eleanor Ave. in the Hollywood submarket of Los Angeles.
Janet Neman,
senior managing director with Charles Dunn Company, represented seller, Eleanor
Avenue Properties, LLC. The buyer was Next Tuesday, LLC. The closing cap rate
was 5.09 percent and the per-unit price was $331,250.
Built in 1990, the
two-story building was 75 percent occupied at the close of escrow and consists
entirely of two-bedroom units. An extensive renovation was recently completed
on the property that included exterior upgrades and new interior features such
as recessed, energy-efficient lighting, flooring, kitchen cabinetry and
eco-friendly appliances.
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| 6123 Eleanor Avenue Apartments, Hollywood, CA |
Several units offer views of the Hollywood
sign. Situated one block south of Santa Monica Blvd. and one block east of Vine
St., the asset is within a densely populated area rich in retail, dining, and
entertainment amenities to serve the demands of the local resident and
employment base.
“The Hollywood market is
thriving and prices for multifamily assets continue to be on the rise,” said
Neman. “Because this property was recently renovated and repositioned, it is
poised to capture prime rental rates and appreciation in a well-located
neighborhood.”
For a complete
copy of the company’s news release, please contact:
Darcie Giacchetto
949.278.6224
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