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 firstname.lastname@example.org. Follow her on Twitter @HannahMadans