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5/29/17
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Universe Holdings recently paid $12.6 mil for Villa Edgemont, a 45-unit apartment community in Los Feliz, a central Los Angeles neighborhood situated between Hollywood and Silverlake. With this deal, Universe now owns and operates a Hollywood/Los Feliz portfolio totaling 275 units in nine unique properties including Chateau Alto Nido and the recently acquired Mansfield Apartments.
Built in 1959, Villa Edgemont offers a mix of studio, one-bedroom and two-bedroom units. The low-rise property’s layout features cascading levels that maximize stunning views of Griffith Park, Hollywood Hills and the Hollywood sign from throughout the property. The asset also offers desirable community amenities including an abundance of courtyard community space, rooftop pool and sundeck with BBQ area, a fitness center, and immediate access to nearby Barnsdall Art Park.
From Villa Edgemont, residents can walk to numerous restaurants and nightlife venues along Hollywood, Vermont and Franklin Avenues including neighborhood hotspots such as Il Capriccio, 1739 Public House, Starbucks, Umami Burger, Covell, The Dresden and Homestate. Additionally, Villa Edgemont offers access to public transit via the nearby Metro Red Line Vermont/Sunset station, connecting residents to Union Station and all other Metro lines.
In this transaction, HFF represented the seller and also arranged acquisition financing for Universe Holdings.
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