Affordable Housing Portfolio Near Hollywood Park Sells for $24.8M

by Nellie Day

LOS ANGELES – A local investment firm has acquired a three-property multifamily portfolio in the Hollywood Park area of Los Angeles for $24.8 million. The portfolio contains a total of 150 affordable apartment units. They are located on or near the part of Normandie Avenue that buttresses Inglewood. The buyer plans to use government incentives to upgrade and renovate the buildings. The company also intends to manage the properties as a scattered-site portfolio. Kitty Wallace and Rob Shiels of Colliers International represented the seller.

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