LOS ANGELES, Aug. 3, 2016 /PRNewswire/ -- Optimus Properties, LLC has completed the acquisition of a 14 unit apartment complex located at 1800 North Kingsley Drive. The building is located north of Hollywood Boulevard and east of Western Avenue in the popular and increasingly up and coming area known as Franklin Village, in close proximity to restaurants, entertainment, shopping and transportation.
"This is an area we have been wanting to acquire properties in given its proximity to Hollywood, Los Feliz and Larchmont. We foresee holding this asset in the portfolio for the long term," said Kamyar Shabani, a principal of Optimus Properties, LLC.
The Property was built in 1948 and consists of 14 one bedrooms with parking and secured access. Optimus intends on renovating the exterior of the building and improving the common areas.
"The Property needs some TLC, which we are particularly good at," said K. Joseph Shabani, a principal of Optimus Properties, LLC.
Optimus Properties, LLC, located in Los Angeles, California, was founded by Kamyar Shabani and K. Joseph Shabani and employs a disciplined investment approach focused on value creation in multifamily properties throughout Los Angeles.
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SOURCE Optimus Properties, LLC