LOS ANGELES, CA -MWest Holdings, a Los Angeles-based real estate and investment firm with over 2 million square feet of residential and commercial property across the U.S., announced the acquisition of a 168-unit, 13-story luxury high-rise apartment community located in the Koreatown district of Los Angeles.
The View, located at 3460 West 7th Street, was originally constructed in 1965 and underwent an extensive redevelopment in 2013, entirely transforming the building. Unit interiors have been fully amenitized with Caserstone countertops, soft close cabinetry, Frigidaire stainless steel appliances, double basin stainless steel sinks, recessed lighting, and washer/dryer combination units. The community features a modern Yoga Works studio on the ground floor, fully equipped fitness center, large pool and sundeck, barbeque area, outdoor lounge and community room.
The Koreatown submarket is experiencing a development boom, evidence of the area's gentrification. With a walk score of 96, residents have access to restaurants, entertainment and nightlife. The building is conveniently located one block from the Wilshire/Normandie station, and the Wilshire/Vermont metro station is located less than a mile away.
MWest plans to capitalize on the asset's A+ location by providing minor interior upgrades and revitalizing the existing common areas and community amenities.
"The View is an example of a unique core-plus purchase where we can make thoughtful upgrades to an already desirable asset in a growing community, with the goal of ensuring an enjoyable living environment both new and existing residents will enjoy," said Karl Slovin, President of MWest Holdings.
MWest Holdings is a vertically integrated real estate investment and property management company with over 2 million square feet of residential and commercial property across the United States. Founded in 1991, MWest is known for creating innovative development solutions that instill a sense of neighborhood and integrity and create a lasting, tangible value.
Source: MWest Holdings / #Apartments #Multifamily