LOS ANGELES, CA – May 31, 2012 – (RealEstateRama) — NAI Capital’s Tim Steuernol and Rob Zaharia with the West L.A. office represented the Seller, Argyle Ave LLC, in the sale of a vintage English Tudor 7 Unit multifamily property located at 2062 Argyle Ave. to the Buyer, Nick Sasano. The value of the sales transaction was over $1.8M.
“There were a number of investors interested in the building. They were drawn to the property’s unique English Tudor architecture, excellent Hollywood Hills location, and stability of the market and tenants. We were able to sell the asset at the highest cost per square foot in the market area since 2008,” said Steuernol.
The seven unit English Tudor style property was built in 1929 and resides on a beautiful residential street in the Hollywood Hills. The property maintains two buildings with both 1 & 2 bedrooms units with a large two-bedroom townhouse making an ideal owner’s unit. Both buildings have hardwood floors, vaulted ceilings and crown molding. The property recently has upgraded the electrical, water heater and copper plumbing (units individually metered). The property also has common area laundry facilities and BBQ area.
The property is located in the Hollywood Hills, one block north of Franklin Avenue and walking distance to the heart of Hollywood. Perched on a hilltop tenants have amazing views of Hollywood and the L.A. Basin. The area is home to L.A.’s entertainment industry and there are numerous historical landmarks nearby including the Hollywood Walk of Fame, Hollywood Bowl, WHotel, Pantages Theater, Griffith Observatory, the Capital Records Tower, Grauman’s Chinese Theater, and Magic Castle, amongst others.
About NAI Capital
NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com NAI Capital Brokerage DRE #00806840
Sharon M. Fitzgerald
Public Relations Manager