LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Perch, a five-story apartment asset located on the border of the Eagle Rock and Highland Park neighborhoods in Los Angeles.
Roundhouse sold the property to ABRA Management for $28.7 million, or $486,441 per unit.
Completed in 2018, The Perch features 59 one-, two- and three-bedroom layouts, two levels of structured parking, an outdoor lounge with firepit, gated parking and electric vehicle charging stations. Additionally, the property features 2,646 square feet of retail space, which Hilltop Coffee + Kitchen and Perch Salon occupy.
Paul Darrow of Marcus & Millichap, along with Kevin Green, Joseph Grabiec and Greg Harris of IPA, represented the seller and procured the buyer in transaction.