DEAL OF THE DAY: Five-Unit Rental Property Sold for $1,175,000

By Anuradha Kher, Online News EditorLos Angeles–Sperry Van Ness has completed the sale of Jessie D’Arche Apartments, a five-unit apartment community near University of Southern California (USC), to Malibu, Calif.-based L33T Student Housing for $1,175,000.The property is located near the 10 and 110 Freeways at 1155–1157 West 27th St. in Los Angeles.Omar Ting and Jeff Pierce of Sperry Van Ness in Los Angeles represented the buyer as well as the seller, Los Angeles-based Circle Park Holdings LLC.  Built in 1925, the two-building property is situated on .18 acres of land, and was 100 percent occupied at the close of escrow. The property features four three-bedroom/one-bathroom units and one one-bedroom/one-bathroom unit with monthly rents ranging from $476 to $2,300.  There is an application for the property to be a historical cultural monument, according to Ting and Pierce.