Marcus & Millichap’s Azzi Group Closes Value-Add Sale of West Hollywood Multifamily

Marcus & Millichap closed the sale of 1203 N. Kings Road, a 30-unit multifamily property in West Hollywood. The property sold for $7.98 million, or $266,000 per unit.

“The property presented the buyer with a rare opportunity to acquire a well-located West Hollywood asset at an attractive basis with significant value-add potential,” said Tony Azzi, executive managing director investments.

“With opportunities to renovate vacant units and improve operations, the buyer is well positioned to enhance the property’s long-term cash flow. West Hollywood continues to benefit from strong rental demand driven by limited housing supply, walkability and access to major employment and lifestyle destinations throughout Los Angeles,” added Rabbie Banafsheha, senior director investments.

Azzi and Banafsheha, of The Azzi Group in Marcus & Millichap’s Los Angeles office, marketed the property on behalf of the seller. Azzi, Banafsheha, Arteen Zahiri and Ian Habbestad, also of The Azzi Group, procured the buyer.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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