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Wednesday, Feb 8, 2023

Highland Residences in Hollywood Sells for $52M

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 cmcevoy@labusinessjournal.com or (323) 556-8337.

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