Charles Dunn Company Completes $4.22 Million Sale of an 18-Unit
LOS ANGELES, CA – August 10, 2011 – (RealEstateRama) — Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed the $4.22 million sale of an 18-unit multifamily property that was built in 2002 and is located at 821 Wilcox Ave. in Los Angeles.
Michel Hibbert of Charles Dunn Company represented the Los Angeles-based buyer, 821 Wilcox Avenue, LLC in the transaction. The seller was Sherman Oaks, Calif.-based 821 Wilcox LLC who was represented by David Meir of KW Commercial. Earlier this month, Hibbert sold the sister property (813 Wilcox Ave) located next door and purchased by the same buyer.
“The southern section of Hollywood is a great location for multifamily property as rents are continuing to climb as vacancies decline,” said Hibbert. “The Wilcox neighborhood has seen extensive re-development over the past year or so, which provides an investor to opportunity to purchase now in an improving locale.”
The unit mix consists of 14 two-bedroom/two-bathroom units with monthly rents ranging from $1,600 to $1,800; two, two-bedroom/two and a half bathroom units with monthly rents ranging from $1,890 to $1,936 and two, two-bedroom/two and a half bathroom townhouse units with monthly rents at $2,200. Features of the property include: central heat and air conditioning, balconies, fireplaces, an elevator, laundry facilities and secured entry and parking.
About Charles Dunn Company
Charles Dunn Company is one of the largest full-service regional real estate firms in the Western United States. Established in 1921 and headquartered in Los Angeles, the firm’s brokerage practice continues to be a market leader. The firm also manages more than 20 million square feet of office, industrial, retail, residential and mixed-use properties for third party clients and provides construction management, architecture and design, general contracting and capital markets services. With more than 260 team members in nine offices, Charles Dunn Company’s reach extends far beyond its physical locations, as its experienced professionals leverage their market knowledge, relationships, and expertise to achieve and exceed client expectations. www.charlesdunn.com
