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CHARLES DUNN COMPANY SOLD 18,604 SF
APARTMENT BUILDING FOR $1.2 MILLION
Charles Dunn Company, a full-service commercial real estate firm, has sold an 18,604 SF, 32-unit apartment building located at 138 South Westmoreland Avenue in Los Angeles, Calif. The four-story building has a unit mix comprised entirely of single units and the building was 97% occupied at the time of sale.
Charles Dunn Company, a full-service commercial real estate firm, has sold an 18,604 SF, 32-unit apartment building located at 138 South Westmoreland Avenue in Los Angeles, Calif. The four-story building has a unit mix comprised entirely of single units and the building was 97% occupied at the time of sale.
Bradley Anderson, associate and Albert R. Shilton, senior managing director, both of the Investment Properties Group in Charles Dunns West LA office, represented the seller, The Amerra Family Trust. The buyer, Innovent Real Estate Five, LLC, was represented in-house by Jason Posovsky.
The seller originally purchased the building at the end of February, 2002 for $770,000. Based on this latest sale price, we were able to help our client realize a gain in value of approximately 54% over 15 months," said Anderson. The rapid value increase is indicative of a strong seller's market, driven by the availability of increasingly low interest rate financing during the last 18 months."
Charles Dunn Company is one of the largest full service brokerage and property management firms on the West Coast. Since its founding in 1921, Charles Dunn Company has been helping thousands of companies and individuals with a full complement of real estate services. The California-based company offers comprehensive brokerage, property and asset
management, corporate and construction advisory as well as financial services to tenants, owners, investors and developers. Charles Dunn Company maintains offices in downtown Los Angeles, West Los Angeles, Sacramento, Seal Beach, San Diego, San Fernando Valley, San Francisco, Orange County and Phoenix. For more information, visit www.charlesdunn.com
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Contact:
Vanessa Amin
vamin@hoytorg.com
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