LOS ANGELES—The 58-unit Avondale Apartments has sold to Avondale Hollywood LLC, a local investment company, for $6 million. The property is located at 1825 N. Cahuenga Blvd.
“This vintage Hollywood property is well located and offers an excellent opportunity for value enhancement through renovation and repositioning within this vibrant market,” Darin Beebower, a broker with Madison Partners, said in a statement.
The apartment complex was built in 1928 and is considered a classic Hollywood building since its architectural and interiorcomponents are of the era.
Beebower represented both the buyer and seller 1825 N. Cahuenga LLC in the transaction. Thisis the fifth transaction he has executed between the two companies. It was the interaction these companies had with eachother in the past that secured the deal, when a number of other buyers also expressed interest.
“Our emphasis on building strong and lasting bonds with our clients ultimately benefits everyone involved,” Beebower said.