LOS ANGELES—M West Holdings LLC, a private real estatecompany, bought Guardian Apartments and an adjacent four-story building with apartments and retail units in West Hollywood for an undisclosed price.
Marcus & Millichap Real EstateServices arranged the sale of a two-building portfolio. Guardian Arms Apartments is a seven-story, 90-unit apartment building with four retail spaces on the ground level. The adjacent building contains 11 apartments and five ground-floor retail units. The buildings are located at 5217-5233 Hollywood Boulevard.
Richard Ringer, a first vice president investments in Marcus & Millichap’s West Los Angeles office represented the seller, a private partnership, and the buyer.
Jake Roberts and Anita Roberts, both vice presidents capital markets in Marcus & Millichap Capital Corp’s West Los Angeles office, arranged the financing.
The two contiguous properties were built in the late 1920s on a lot totaling 44,998 sq. ft. with 100 ft. of boulevard frontage. The total unit mix for the two buildings is 21 “bachelor” apartments without kitchens, 52 studios with kitchens, 28 one-bedroom/one-bath apartments and nine retail spaces.