The Boulevard Villas
Investment Real Estate Associates (“IREA”), a national investment real estate advisory firm based in Los Angeles, California announced today the sale of the 43-Unit Boulevard Villas Apartments for $10,126,000.
The Boulevard Villas is an extremely well-maintained 43-unit apartment building located in the highly diverse and dense urban neighborhood of Mid-City Los Angeles.
This non-rent control property is situated on Crenshaw Blvd near the corner of Venice Blvd. Ideally located between the highly desirable neighborhoods of Park LaBrea, Mid Wilshire & Koreatown, tenants are minutes away from L.A.’s best shopping, dining, and entertainment options.
The building offers a unit mix comprised of 28 1+1 (approx. 800 sqft) and 15 2+2 (approx. 1200 sqft) units, each with its own balcony and laundry in-unit. The property features two gated on-grade parking lots with 67 spaces, secured pool & hot tub, and additional monthly income from a Sprint Cell Tower.
Clark Everitt, Senior Vice President, William Everitt, Vice President and Julian Curry, Associate at IREA represented both the seller, a private LLC, and the buyer a private investment firm.