1929-Vintage Los Feliz Apartments Sell to Dream Street Capital
Marcus & Millichap has completed the sale of 1939 N. Kenmore Ave., an 18-unit multifamily property located in Los Angeles. The property sold for $5.28 million.
“Properties with this charm and character that have been owned by the same family for several decades rarely come to market in Los Feliz,” said Jeff Louks, executive managing director investments. “The level of interest throughout the competitive sale process reflects continued demand for well-located multifamily assets. Investor activity remains steady, and we continue to close multiple transactions each month.”
Louks and Elliot Sabag, investment specialists in Marcus & Millichap’s Encino office, represented the buyer, Michael Maltzman of Dream Street Capital. The seller was a private seller.
Built in 1929, the property totals 18,317 square feet and is situated on a 0.26-acre parcel in Los Feliz. The Spanish-style building had been owned by the same family for several decades before the sale. The buyer plans to complete a renovation and restoration program.
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