Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
February 23, 2019
 Search RENTV
   Go!
 Video Programs
 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?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Two Hollywood Apartment Properties Trade for $211k/Unit

2/11/19

Los Angeles-based Lillian Way Capital Group LLC purchased two garden-style multifamily properties, totaling 32 units, in a prime area of Hollywood, for $6.75 mil, or $211k/unit. The properties, located at 750 and 760 Lillian Way, north of Melrose Ave and just west of Vine St, were sold by Studio Apartments.

750 and 760 Lillian Way were built in 1955 and 1954 respectively. 750 Lillian Way features eight one-bedroom apartments, while 760 Lillian Way offers a mix of 24 bachelor and studio floorplans. The properties offer close proximity to Red and Paramount Studios and are within walking distance to dining and shopping destinations on trendy Larchmont Blvd.

Jim Fisher and Mike Smith of Berkadia’s Los Angeles office represented the seller in the deal, which cloed at a 4.5% cap rate. The property was 65% occupied at the time of the sale with vacant units being held unoccupied for renovation.

“The buyer was attracted to the exceptional location and density of the property. Although average unit size is 415 square feet, there is tremendous demand throughout the Hollywood and Greater Los Angeles for efficiency units” said Smith.





Return to the previous 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 © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media