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December 15, 2018
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65-Unit Asset in LA’s Westlake/MacArthur Park Area Fetches $240k/Unit


In an LA-area apartment sales comp, Winstar Properties Inc paid $15.6 mil for a 65-unit ($240k/unit) asset at 236 S. Bonnie Brae St, in the city’s Westlake/MacArthur Park neighborhood. The property was sold by a private investor in an off-market deal.

236 S. Bonnie Brae St is the second-largest apartment building in terms of number of units to trade this year in Westlake/MacArthur Park. Josh Kaplan and John Swartz of Transwestern’s Los Angeles Multifamily Investment Services group represented the seller in the transaction.

“With apartment pricing continuing to increase in Koreatown, Silver Lake/Echo Park and East Hollywood, the Westlake/MacArthur Park area continues to mature into a popular, less expensive alternative for investors,” said Kaplan. “The proximity to Downtown Los Angeles and easy access to major freeways are also contributing factors to increased multifamily investor interest in this area.”

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