In a notable multifamily trade in Los Angeles, a three-story, 120-unit apartment community in the city’s historic La Fayette Park neighborhood sold for $43.44 mil, or $362k/unit. The property, consisting of a 91k sf building on a 43k sf lot, was acquired by the Housing Authority of the City of Los Angeles (HACLA). The seller was California Landmark Group.
Built in 1971 and extensively remodeled in 2017, the property is located on a wide, tree-lined street at 349 S. La Fayette Place, east of Hoover St and south of 3rd St. It has 120 subterranean parking spots with third-party billing for EV charging stations.
