Goldrich Kest, a Culver City-based property owner and manager, has purchased the Highland Residences, a six-story, 76-unit, 68,000-square-foot apartment building at 1411 N. Highland Ave. in Hollywood, for $52 million.
Lennar Multifamily Investors, an Aliso Viejo-based limited liability company, is listed as the previous true owner by CoStar Group Inc.
Goldrich Kest represented itself in the transaction. Vince Norris, a managing director at Berkadia’s Woodland Hills office, represented the seller.
The apartments range from 537-square-foot studios to three-bedroom units of 1387 square feet each. The monthly rent ranges from $2,400 to $5,250, Goldrich Kest said in a statement. The property also has two ground-floor areas available for lease, the firm said.
The Miami-based homebuilder Lennar Corp. constructed the property located on the northwest corner of Highland and De Longpre avenues. The building is located blocks south of the Hollywood & Highland complex, nightlife and the Los Angeles County Metropolitan Transportation Authority Red Line’s Hollywood/Highland Station.
Real estate reporter Ciaran McEvoy can be reached at email@example.com or (323) 556-8337.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Infinity West Apartments in Hollywood Sold for $23.7 Million
- Harbor Gateway Industrial Property Sells for $21M
- Larchmont Car Repair Lot Sells for $7M, Plans Call for Mixed Use Development
- Los Feliz Club Apartments Acquired for $55M
- Goldrich Kest Names CEO
- Multifamily Portfolio Fetches $23 Million
- Notable Family-Owned Businesses in Los Angeles: Goldrich Kest
- Immigrant Developer Rebuilt Life in Los Angeles