CBRE Announces Sale of Two-Building Apartment Property in West LA to China-Based Investor

CBRE announced the sale of an apartment property in Los Angeles for $6.7 million to a private China-based investor.

Laurie Lustig-Bower and Kamran Paydar with CBRE’s Los Angeles Multifamily Investment Sales represented the seller, a local trust.

Located at 1235-41 S. Beverly Glen Boulevard, the property currently features 14 units in one of Southern California’s premier residential communities. The property was being marketed as an existing property with significant upside potential or as a redevelopment opportunity. Situated one block south of Wilshire Boulevard, the site is in proximity to the area’s retail and employment centers, such as Century City and Beverly Hills.

“The offer activity was very competitive, and as a result we were able to achieve a sales price that was above asking,” said Lustig-Bower. “The new owner is considering plans to redevelop the site.”

Added Paydar, “The property's excellent location at Beverly Glen and Wilshire Blvd., along with its architectural charm, generated significant investor interest especially in a market with such high demand for housing.”

Eddy Chao and Kate Liao of Asia Pacific Capital Company represented the buyer.