Pacific Urban Residential, a Palo Alto-based multifamily real estate investment firm, has purchased Los Feliz Club Apartments, a four-story, 134-unit, 114,000-square-foot apartment complex at 1800 N. New Hampshire Ave. in Los Feliz, for $55 million, or about $410,000 per unit, according to CoStar Group Inc.
The seller was 1800 New Hampshire Associates, a Woodland Hills-based limited liability company, CoStar said.
It’s the first time the property has been sold since it was built in 1987. The property a mixture of studios and one- and two-bedroom apartments. It’s located one block west of shops and restaurants on Vermont Avenue.
The apartment complex also provides easy access to Griffith Park, the Greek Theatre, Griffith Observatory, the Hollywood Sign, and Barnsdall Arts Park with the Frank Lloyd Wright-designed Hollyhock House.
Kitty Wallace, an executive vice president at Colliers International, represented both sides in the transaction.
Real estate reporter Ciaran McEvoy can be reached at firstname.lastname@example.org or (323) 556-8337.
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