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Marcus & Millichap Brokers $22M Sale of Franklin Park Apartments in Hollywood Hills

Franklin-Park-Apts-Los-Angeles-CA

Franklin Park Apartments in Los Angeles’ Hollywood Hills features 75 units, a swimming pool, parking garage and on-site laundry facilities.

LOS ANGELES — Marcus & Millichap has arranged the sale of Franklin Park Apartments, a four-story multifamily property located at the base of the Hollywood Hills in Los Angeles. A family that had owned the property for 55 years sold the asset to a private limited liability company for $22 million, or $293,333 per unit.

Built in 1962, the 65,746-square-foot property features 75 units, 21 of which were vacant at the time of sale. The community also offers a swimming pool, parking garage with electric car charging station, on-site laundry facilities and a courtyard.

Rick Raymundo and Shane McConnell of Marcus & Millichap represented the seller and procured the buyer in deal.

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