Encino-based brokerage Investment Real Estate Associates announced the $10.2 million sale of a 20-unit, non-rent controlled Flight Ave. Apartments, at 7070 Flight Ave. in Westchester.
IREA partners Jonathan Krikorian, Clark Everitt, and William Everitt represented the buyer and seller, which the firm said are both private.
IREA claimed the sale set a record for the highest price per unit on a multifamily property in Westchester. On a per unit basis, the apartments went for $513,000 or $419 per square foot, according to the firm.
“The closing represents the continuing real estate strength of the emerging Westchester neighborhood, convenient to nearby tech haven Silicon Beach,” Everitt said in a statement.
The property, built in 2007, last sold in Dec. 2013 when Green Pae LLC acquired the property from 7100 Flight Ave. LLC for $6.99 million, according to CoStar data. Green Pae was listed as the seller in the latest transaction, according to CoStar data.
IREA declined to name either the buyer or seller.
Real estate reporter Neil Nisperos can be reached at firstname.lastname@example.org. Follow him on Twitter @ReporterNeil for the latest in L.A. real estate news.