WEST HOLLYWOOD, CA - Stepp Commercial, a leading multifamily brokerage firm in the Westside market, has completed the $5.2 million sale of fully occupied, 16-unit apartment property located at 1331 Havenhurst Drive in West Hollywood.
Kimberly Roberts Stepp, principal with Stepp Commercial, worked with both parties. The buyer was Los Angeles-based A Sierra Apartments LLC, and the seller was a Los Angeles-based Family Trust. The price per unit was $325,000.
Built in 1956, the two-story property consists of 12 two-bedroom units and four one-bedroom units. It is located just south of the Sunset Strip and is near Havenhurst Park.
“We received multiple offers on the asset and the seller selected one of the buyers I brought to the table as it offered the most favorable terms,” said Roberts Stepp. “This asset offered the buyer future appreciation as well as the opportunity to add value through upgrading units as they become available.”
About Stepp Commercial: Stepp Commercial is a brokerage firm specializing in the multifamily sector for properties ranging in size from $1 million to $50 million. Stepp Commercial’s mission is to provide apartment owners with a fully integrated sales platform that includes comprehensive market knowledge and local real estate expertise to successfully complete any type of multifamily transaction. For more information visit SteppCommercial.com