Greysteel Facilitates Sale of Los Angeles Community
The asset changed hands for $1.5 million.
Los Angeles— Greysteel has recently closed on the $1.5 million sale of Fairfax Commons, a rent-stabilized multifamily property located in Los Angeles.
Greysteel Managing Director John Mullen and Investment Associate Everett Wong led the marketing efforts, represented the undisclosed seller and also procured the buyer, Fairfax Properties LP.
“As the demand for multifamily housing in the urban pockets of Los Angeles continues to outpace supply, Fairfax Commons will be one of many well-located assets to realize remarkable upside in the long term,” said Mullen in a prepared statement. “We congratulate both the buyer and seller on a successful transaction.”
The eight-unit community is located 1.5 miles from the 10 Freeway, providing easy access to Santa Monica and downtown Los Angeles. Fairfax Commons is close to a plethora of leisure and entertainment destinations found in the West Hollywood or Beverly Grove neighborhoods.
Image courtesy of Greysteel