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Los Angeles Multifamily

Koreatown Apartments Trade

More evidence Koreatown is heating up. Berkadia Real Estate Advisors partner Brent Sprenkle sold a pair of apartment buildings in the submarket: The Chalfonte (720 S Normandie Ave) and 709 S Mariposa Ave. The buildings, 101 units total, traded for a combined $12.5M or $159/SF. The seller was Dornin Investment Group and the buyer was a private, local party. (We once threw a private party, or at least that was our excuse after nobody showed up.)

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