Optimus Properties, LLC has purchased 1806 N. Berendo St., a 34-unit apartment property in the Los Feliz neighborhood of Los Angeles. Robin Ossenbeck of Kidder Mathews represented the seller, a family trust, in the $16 million transaction. First Republic Bank sourced the acquisition financing.

“This building is a hidden gem in a great neighborhood that keeps getting better. We are excited to implement our value-add strategy at this building and bring it up to the standards of the neighborhood,” said Optimus Principal Kamyar Shabani. The firm plans to modernize the common areas and renovate unit interiors.

The complex was built in 1988 and features a unit mix of 10 one-bedroom apartments and 24 two-bedroom residences. “In addition to renovating units and curing multiple deferred maintenance issues, there are a significant amount of underutilized common areas that we plan to make more operational for tenants,” added Optimus Principal Joseph Shabani.