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Tuesday, Jun 6, 2023

Los Feliz Apartment Complex Sells for More than $17M

A 54-unit apartment complex in Los Feliz sold for $17.58 million, CBRE Group announced Dec. 27.

CBRE’s Priscilla Nee represented the seller, a private trust. Nee also represented the buyer, an unnamed investor.

The building received more than 15 offers and sold for $1.1 million more than its asking price, according to CBRE.

Los Feliz Palms, at 1917 Rodney Dr., has a mixture of one-bedroom and two-bedroom units. It also has a pool and a fitness center.

“The buyer was ultimately attracted to the prime location and competitive rents,” Nee said in a statement. “The Los Feliz submarket’s high barrier to entry made this a one-of-a-kind, highly sought-after investment and opportunity.”

Commercial real estate reporter Hannah Madans can be reached at hmadans@labusinessjournal.com. Follow her on Twitter @HannahMadans

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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