A 87-unit Complex located in 2634 Johnson St, Hollywood was sold for $8,200,000. The average price per unit is roughly $94,300. Coastline Management is the company that bought it as an “Off Market” deal. The demand for multi-unit residential income properties have been increased significantly in the past few months.
Source: The Real Deal
Hollywood rentals trade for $8.2 million
An 87-unit apartment complex in Hollywood sold in an off-market deal for $8.2 million, or $94,253 per unit. Coastline Management bought the single-story Park Cole Apartments complex at 2635 and 2643 Lincoln Road in Hollywood, just west of Young Circle. The seller was Park-Cole Corp. Park Cole Apartments is located on a 2.42-acre site and has 52 studios and 35 one-bedroom apartments. Ronald Meyerson, senior vice president of multifamily sales at Cedano Realty Advisors, represented … Continue reading Hollywood rentals trade for $8.2 million… [more]The Real Deal Miami