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SOUTHERN CALIFORNIA NEWS
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Private Investors Nab Hollywood Area Apartment Properties

9/09/14

A 48-unit apartment building on LA’s Westside, near Mt. Olympus, was purchased by Kambiz Hakim, a private real estate investor and developer based out of Santa Monica, along with his two sons, Alexander and Steven Hakim. It was sold by SA Properties Holdings Hillside Avenue.

Built in 1955, the 46.7k sf property is situated on 1.21 acres at 7215 Hillside Ave, one block east of Runyon at the corner of Hillside and La Brea Blvd. The property consists mostly of one- and two-bedroom units. It features a large pool in the middle of a lushly landscaped courtyard.

Michael Balson of Keller Williams Commercial Beverly Hills represented both parties in the deal. The price was not given out.

In a nearby apartment sale, just a mile and half south of there in West Hollywood, a 17-unit property at 909 N. Gardner was acquired by a California-based private investor. No price was shared in this transaction either.

Built in 1988 and renovated in 2013, the non-rent controlled property includes controlled access, an elevator, gated parking, and fitness room. Each unit includes central air conditioning, fireplaces, dishwashers, recessed lighting, new upgraded cabinetry and kitchen appliances, quartz counters with under mount sinks and other upgrades.

Kimberly Roberts Stepp, senior managing director with Charles Dunn Company, represented the seller, a private investment company. The buyer was repped by Shah Noorvash of Coldwell Banker-BH South.





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