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1929-vintage Los Feliz apartments sell for $5.28 million
The 18-unit, 18,317-square-foot Spanish-style building on a 0.26-acre parcel was built in 1929 and is set for a renovation and restoration after the sale.
ConnectCRE reports that Marcus & Millichap has completed the sale of 1939 N. Kenmore Ave., an 18-unit multifamily property in Los Angeles. The transaction price was $5.28 million.
The property is described as a Spanish-style building built in 1929, totaling 18,317 square feet and located on a 0.26-acre parcel in the Los Feliz neighborhood. ConnectCRE notes the building had been owned by the same family for several decades before coming to market.
Marcus & Millichap represented the buyer, Michael Maltzman of Dream Street Capital. The seller was a private seller.
In comments shared by ConnectCRE, Jeff Louks, executive managing director investments, said properties with long family ownership and distinctive character rarely reach the market in Los Feliz, and that investor interest reflected ongoing demand for well-located multifamily assets. The buyer plans to complete a renovation and restoration program.