California + Los Angeles + Apartments | May 17, 2022

CBRE Brokers $7M Sale of West LA Apartment Property

CBRE Brokers $7M Sale of Multifamily Property in West LA

CBRE has announced the $7 million sale of a two-building, 14-unit apartment complex on Beverly Glen Boulevard in Los Angeles. Situated just one block south of Wilshire Boulevard, the property is in proximity to the area’s retail and employment centers, including Century City and Beverly Hills.

CBRE’s Laurie Lustig-Bower and Kamran Paydar represent the seller, a local trust while Eddy Chao and Kate Liao of Asia Pacific Capital Company represented the buyer, a private China-based investor.

“The offer activity was very competitive, and we were able to achieve a sales price above asking,” said Lustig-Bower in a news release. Added Paydar, “The property’s excellent location at Beverly Glen and Wilshire Boulevard along with its architectural charm, generated significant investor interest especially in a market with such high demand for housing.”

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CBRELaurie Lustig-BowerKamran Paydar

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.