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LOS ANGELES — Keller Williams has negotiated the sale of Glassell Apartments, a 35-unit multifamily asset in Los Angeles. A 1031 exchange investor bought the property for $8.6 million.
The community is located at 3367 Andrita St. in Glassell Park, near Glendale and Eagle Rock. Built in 1989, the property is subject to rent control and was more than 60 percent vacant at the time of sale.
The seller was a family trust that owned the asset for more than 20 years. Andres Diaz of Keller Williams’ office in downtown Los Angeles represented the seller and procured the buyer.