IPA Negotiates $26.2M Sale of Multifamily Asset on Hollywood Boulevard in Los Angeles
LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Guardian Arms Apartments, a multifamily community located at 5217 Hollywood Blvd. in Los Angeles. A joint venture between MWest Holdings and Pacific Reach sold the property to ROM Investments for $26.2 million, or $259,405 per unit.
Built in 1928, Guardian Arms Apartments features 101 residential units and 9,207 square feet of ground-floor retail space.
Joe Grabiec, Kevin Green and Greg Harris of IPA represented the seller in the deal.