The nVe at Fairfax, a 63-unit multifamily property just outside of West Hollywood, has sold for $36 million.

The property is at 639 N. Fairfax Ave., roughly 300 feet from Melrose Avenue. It has six affordable units.

Marcus & Millichap Inc.’s Institutional Property Advisors division announced the sale Jan 14.

IPA’s Greg Harris, Kevin Green and Joseph Grabiec represented the seller, Micropolitan, and procured a private investor buyer. IPA did not disclose the name of the buyer but CoStar Group Inc. data indicates that Benedict Canyon Equities Inc. purchased the property through an LLC.

The property, which was built in 2018, was 95% leased at the time of the sale, according to CoStar. It has a club lounge and a Zen garden.

“The property is one of only five 50-plus unit assets delivered within a one-mile radius since 2000 and is just the third new multifamily asset to trade during that same time frame,” Harris said in a statement.

The area, Green added, is surrounded by jobs.

“A key driver of the West Hollywood/Fairfax rental market is the abundance of high-paying jobs created by entertainment, media, and technology companies such as Netflix, HBO, and Viacom,” Green said in a statement. “nVe at Fairfax is perfectly situated to benefit from this economic growth as thousands of these new jobs are within walking distance or a short drive from the community.”