The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Multifamily Property Near USC Sells for $450k/Unit

9/22/15

In a recent Los Angeles multifamily comp, Palisades Apartments, a four-story, 28-unit, property within walking distance to University of Southern California (USC), sold for $12.6 mil ($450k/unit). The transaction closed at a 5.1% cap rate.

Built in 2002, Palisades Apartments is located at 1210 and 1226 W. Adams Blvd, south of I-10 and west of Hoover St, near the USC campus. The two-building, non-rent- controlled property includes a mix of unit sizes, with the majority being two- and three-bedroom units. The property, situated within the USC Public Safety patrol area, includes ample controlled-access parking, onsite laundry facilities and furnished rooftop decks.

Avison Young Associate Robert Ip represented the buyer, Orchard Adams LLC. The seller, Palisades USC LLC, was repped by CBRE.

“This property offered the buyer excellent investment fundamentals, including non-rent control, newer construction and proximity to USC, which provides a constant flow of potential tenants,” comments Ip. “The new ownership plans to make updates to the units in order to maximize rents and add overall value to the asset.”





Return to the Archive page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media