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9/21/26
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Decron Properties has acquired 5550 Wilshire, a 163-unit mixed-use apartment community in Los Angeles’ Miracle Mile area, for $114 mil. The deal works out to $699k per unit.
Developed in 2010 to luxury condominium specifications, 5550 Wilshire offers one-, two- and three-bedroom apartments and townhomes with floor plans approximately 33% larger than the submarket average. Amenities include a resort-style pool and spa, resident lounge, private movie theater and rooftop skyline lounges. The property also has parking for 484 vehicles, an unusually strong ratio serving both its residential and retail uses.
The property includes 14.7k sf of ground-floor retail space that is fully leased to national credit tenants including Chipotle, Five Guys and FedEx Office. These retail uses complement the residential component and contribute to the property’s diversified income stream.
Located less than a mile from Decron’s headquarters, 5550 Wilshire has a Walk Score of 95 and is within walking distance of the Wilshire/Fairfax station on Metro’s D Line extension, connecting residents to major employment, cultural and entertainment destinations across Downtown Los Angeles, Koreatown, Beverly Hills and the Westside. The surrounding Miracle Mile district includes major museums, retail destinations and more than 5 msf of office space.
Decron acquired the property at a substantial discount to replacement cost and with in-place income that generates positive leverage from day one. Together, those attributes provide Decron with an attractive cash flow while preserving multiple paths to create value over time.
Blake Rogers of JLL represented both the buyer and the seller in the transaction. The acquisition marks Decron’s first purchase in nearly two years.
Decron continues to pursue opportunities in high-growth markets such as Phoenix, Salt Lake City and Austin, while remaining engaged in established West Coast markets—including Los Angeles, San Jose, Orange County, San Diego and Seattle —where high barriers to entry, constrained housing supply and durable demand can create compelling long-term investment opportunities.
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