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Crescent Heights Building Sells for $856,000 per Apartment

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Multifamily WeHo Site Brings $21 Million

WEST HOLLYWOOD (LA Business Journal) — L.A.-based Roka Properties acquired the Element WeHo, a multifamily property in West Hollywood, for $20.6 million.

The seller was a New York-based investor which had acquired the property in 2015 for $8.9 million and renovated 22 of the 24 apartments. Updates included new doors, windows, in-unit washer-dryer additions and stone slab counters.

The 24-unit Element WeHo property is located at 1425 N. Crescent Heights Blvd. It was 90% leased at the time of the sale.

“At $856,000 per unit, the sale of Element WeHo represents a record achieved in West Hollywood for a property of its size and vintage,” Tresp said in a […]

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