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12/05/19
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A 16-unit apartment complex in the West L.A. community of Mar Vista was purchased by a private investor for $5 mil, or $312k per unit.
The property, Mar Vista Apartments, is located at 11715-11725 Palms Blvd. Built in 1955, the two-story apartment complex is comprised of two buildings with twelve one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units.
The property is in the white-hot Silicon Beach residential market. Mar Vista is a neighborhood within the city of Los Angeles and has become one of the most desirable places to live, work, and play on LA's Westside.
Kevin Kawaoka, CCIM, with NAI Capital represented the buyer and the seller, a family trust, in the deal.
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