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11/21/12
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Golden Western LLC paid about $2.6 mil for two sister apartment buildings in West Hollywood. The properties have a combined 13 units ($200k/unit) and are located at 8000-8022 Fountain Ave, east of Crescent Heights Blvd and south of Sunset Blvd.
Built in 1937, the apartment buildings are on two separate parcels covering 18k sf of land and contain 14.1k sf of rentable space. The units feature high ceilings, fireplaces, hardwood floors, and have been well maintained. This fashionable neighborhood of West Hollywood is in close proximity to the famous Sunset Strip, the Sunset Laurel Plaza, Whole Foods, Trader Joes, 24 Hour Fitness and the Red Line metro.
Kevin Kawaoka and Mario Gandara with the West L.A. office of NAI Capital represented the buyer and the seller, Zenta LP. According to Kawaoka, the property generated over 20 offers, resulting in a purchase price that exceeded the asking price.
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