Charles Dunn Company Completes Two West Hollywood Multifamily Property Sales

June 17, 2014

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LOS ANGELES, Calif. – June 17, 2014 – (RealEstateRama) — Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed two multifamily property sales totaling $4.7 million in West Hollywood. The sales include; a 10-unit property that sold for $3.3 million and is located near Fountain Ave. and W. La Brea Blvd. at 1220 N. Formosa Ave; and a five-unit property that sold for $1.4 million and is located just north of Santa Monica Blvd. at 1231-1235 N. Vista St.<span id="more-2968"></span></p> <p> For the Formosa sale, Kimberly Roberts Stepp, senior managing director with Charles Dunn Company, represented the seller, Los Angeles-based Aquat 9, LLC, as well as the 1031 exchange buyer, a Los Angeles-based private investor. The transaction closed at a 4.8 percent cap rate and sold at full asking price. </p> <p> Built in 1960, the building includes four, one-bedroom one-bathroom units; two, two-bedroom/one-bathroom units; and four, two-bedroom/two-bathroom units. It offers controlled access and was completely renovated in 2013 with high-quality upgrades to all the units.</p> <p> For the Vista sale, Stepp represented the seller, Los Angeles-based Jambax, LLC. The buyer was a private investor from Los Angeles who was represented by Diana F. Tiao of The Collective Realty. The transaction closed at a record low 2.9 percent cap rate. </p> <p> Built in 1930, the two-building property includes a three-bedroom/two-bathroom front unit; and four one-bedroom/one-bathroom units. </p> <p> “We received multiple offers on both properties and selected all-cash buyers, closing escrow in less than 30 days,” said Stepp. “The West Hollywood market for rental properties is one of the best locations for multifamily property investment in California as there are limited availabilities, strong demand, and high barriers to entry for these opportunities.”</p> <p><strong>About Charles Dunn Company</strong><br /> 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 21 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. <a href="http://www.charlesdunn.com" target="_blank">www.charlesdunn.com</a><br />+</p>  <script async src="//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script><div class="td-g-rec td-g-rec-id-content_bottom"> <script type="text/javascript"> var td_screen_width = document.body.clientWidth; if ( td_screen_width >= 1024 ) { /* large monitors */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:468px;height:60px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); (adsbygoogle = window.adsbygoogle || []).push({}); } if ( td_screen_width >= 768 && td_screen_width < 1024 ) { /* portrait tablets */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:468px;height:60px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); 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return false;"><div class="td-sp td-sp-pinterest"></div></a> </div><div class="td-classic-sharing"><ul><li class="td-classic-facebook"><iframe frameBorder="0" src="https://www.facebook.com/plugins/like.php?href=https://california.realestaterama.com/charles-dunn-company-completes-two-west-hollywood-multifamily-property-sales-ID02968.html&layout=button_count&show_faces=false&width=105&action=like&colorscheme=light&height=21" style="border:none; overflow:hidden; width:105px; height:21px; background-color:transparent;"></iframe></li><li class="td-classic-twitter"><a href="https://twitter.com/share" class="twitter-share-button" data-url="https://california.realestaterama.com/charles-dunn-company-completes-two-west-hollywood-multifamily-property-sales-ID02968.html" data-text="Charles Dunn Company Completes Two West Hollywood Multifamily Property Sales" data-via="" data-lang="en">tweet</a> <script>!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");</script></li></ul></div></div> <div class="author-box-wrap"><a href="https://california.realestaterama.com/author/charles-dunn-company"><img src="https://california.realestaterama.com/wp-content/plugins/wp-user-avatar/images/wpua-96x96.png" width="96" height="96" alt="Avatar" class="avatar avatar-96 wp-user-avatar wp-user-avatar-96 photo avatar-default" /></a><div class="desc"><div class="td-author-name vcard author"><span class="fn"><a href="https://california.realestaterama.com/author/charles-dunn-company">Charles Dunn Company</a></span></div><div class="td-author-url"><a href="http://charlesdunn.com/">http://charlesdunn.com/</a></div><div class="td-author-description"><p>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. </p> <p>Contact:</p> <p>Los Angeles Property Management and Asset Services<br /> 800 West Sixth Street<br /> Sixth Floor Los Angeles<br /> CA 90017</p> <p>Phone: (213) 683-0500<br /> Fax: (213) 683-1551</p></div><div class="td-author-social"></div><div class="clearfix"></div></div></div> <span style="display: none;" itemprop="author" itemscope itemtype="https://schema.org/Person"><meta itemprop="name" content="Charles Dunn Company"></span><meta itemprop="datePublished" content="2014-06-17T09:56:03+00:00"><meta itemprop="dateModified" content="2016-03-10T11:14:28-07:00"><meta itemscope itemprop="mainEntityOfPage" itemType="https://schema.org/WebPage" 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datetime="2019-07-05T00:04:12+00:00" >July 5, 2019</time></div> </div> <div class="td-excerpt"> Rep. Grace F. Napolitano (D-El Monte), issued the following statement after the Trump administration announced a new proposal—claiming it to be pro-industry—which would weaken federal clean water rules, putting at risk the health and safety of millions of Americans </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/flood-protection-and-water-storage-ID09937.html" rel="bookmark" title="Flood Protection and Water Storage">Flood Protection and Water Storage</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/realestaterama-2">RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-07-04T03:31:39+00:00" >July 4, 2019</time></div> </div> </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/senators-include-legal-protections-for-military-families-in-privatized-housing-in-defense-bill-ID09930.html" rel="bookmark" title="Senators: Include Legal Protections for Military Families in Privatized Housing in Defense Bill">Senators: Include Legal Protections for Military Families in Privatized Housing in...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/realestaterama-2">RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:24:14+00:00" >April 1, 2019</time></div> </div> </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/mccarthy-introduces-legislation-to-repurpose-high-speed-rail-funding-to-water-infrastructure-projects-ID09929.html" rel="bookmark" title="McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure Projects">McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/congressman-kevin-mccarthy">Congressman Kevin McCarthy</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:20:36+00:00" >April 1, 2019</time></div> </div> </div> </div> </div> </div></div> <aside class="widget widget_archive"><div class="block-title"><span>Government & Nonprofit Press Release Archive</span></div> 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