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7/23/25
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Two multifamily properties in Los Angeles’ Los Feliz neighborhood with a combined 41 units sold in separate deals totaling $9.225 mil. The properties, located at 2028–2030 Rodney Drive and 2040 Rodney Drive, were sold by the same longtime family owner—marking the end of more than 75 years of multi-generational ownership.
One of the properties, at 2028–2030 Rodney Drive, comprising 12 units across two buildings, closed at $4.125 mil ($344k/unit) with the buyer paying for all closing costs. Delivered nearly vacant—including one building under the Rent Escrow Account Program (REAP)—the property sparked strong competition among local investors. A highly motivated buyer secured the asset with a non-contingent offer and plans to renovate and restore the structures.
The other property, at 2040 Rodney Drive, a 29-unit building designed by famed architect Edward H. Fickett—often referred to as “Architect to the Stars”—closed at $5.1 mil ($176k/unit) with the buyer paying all closing costs. Known for its sweeping views, the vacant property drew multiple bids before being acquired from an all-cash offer, with no contingencies. The buyer intends to complete a full-scale interior and exterior renovation.
Josh Luchs with Kidder Mathews represented the seller and both buyers, navigating a complex process involving title issues, probate filings, and vacant delivery of the buildings. Luchs noted that the properties were two of the most sought-after value-add opportunities in Los Feliz, long held by an owner who was apprehensive to sell.
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