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7/13/22
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Alliance Residential Company purchased Vue Los Feliz, a 134-unit apartment property in the Los Feliz neighborhood of Los Angeles, for $64.3 mil, or $479.9k per unit. The property was sold by a private multifamily investment firm.
Located near U.S. Hwy 101 and I-5, Vue Los Feliz is a short walk from two Los Angeles Metro Rail stations. The surrounding area’s strong employment base includes job centers in Hollywood, Universal City, Glendale and Downtown. The property is in close proximity to Griffith Park, Barnsdall Art Park, historic Los Feliz Theater, and many restaurants. Los Angeles City College and The Los Angeles Film School are nearby.
The property’s studio, one- and two-bedroom apartments have hardwood floors, dining rooms, and walk-in closets. Shared amenities include an indoor saltwater swimming pool, spa and rooftop entertainment deck with a barbecue and lounge area.
IPA’s Kevin Green, Joseph Grabiec, and Greg Harris represented the seller in the transaction. According to Green, the Los Angeles metro area is experiencing historically strong multifamily metrics this year, including sub-2% vacancy.
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