A 20-unit apartment complex located just north of Wilshire Boulevard has sold for $6 million.
The multi-family complex, which includes two, three-bedroom/two-bathroom units; 12, two-bedroom/one-bathroom units; and six, one-bedroom/one-bathroom units, is located at 1027-1033 20th St., said Kimberly Roberts Stepp, senior managing director with Charles Dunn Company, who represented the seller, Santa Monica-based Eisen, LLC, as well as the buyer, Los Angeles-based 1027 ENA, LLC.
The transaction closed at a 3.7 percent cap rate.
The building was constructed in 1956.
Stepp said this property offered the buyer excellent upside potential as the rents were 67 percent below market rates.
