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December 5, 2023
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MULTIFAMILY NEWS
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Los Angeles Apartment Building from 1940 Goes for Over $200k/Unit

9/28/22

Edgemont Court, a 12-unit apartment complex located in Los Angeles, traded for $2.5 mil, or $208.3k/unit. Built in 1940, the property is located at 175 and 179 N Edgemont Street.

The two-story, two-building apartment complex is comprised of a rare mix of 12 extra-large studio plus den units. The property sits on a large 11k sf prominent corner lot with units featuring hardwood floors, stainless steel appliances, and ample gated parking. The property is in the trendy Wilshire Center - Koreatown neighborhood with a Walk Score of 88 and a short nine-minute walk from the Metro B Line (Red) at the Vermont / Beverly Station stop.

Kevin Kawaoka, CCIM with NAI Capital Commercialís Multifamily Services Group represented the seller and buyer, both private investors, in the transaction. According to Kawaoka, the property, in an opportunity zone and zoned LAR3, has the potential for future development under Tier 3 Transit Oriented Communities Incentive Program.





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