|Hollywood Apartment Building Acquired by Japanese Investor for $283k/Unit|
|A private investor based out of Japan paid $3.4 mil for a 12-unit ($283k/unit) apartment property in Hollywood. The asset, located at 1803 N. Harvard Blvd, was sold by Xenon Investments Company of Los Angeles.
Built in 1955, the garden-style apartment community features 10 one-bedroom units and two two-bedroom units with 12 parking spaces. It was 100% occupied at the time of sale. The property is less than one mile to Griffith Park, home to the Greek Theater, Griffith Observatory, LA Equestrian Center, Autry National Center, Los Angeles Zoo and the Hollywood Sign.
Adrienne Barr with Berkadia represented the Xenon Investments in the deal. The sale closed at a 3.26% cap rate.
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