LOS ANGELES, Oct. 26, 2018 /PRNewswire/ -- Optimus Properties, LLC has completed the $2.490 million sale of a 12 unit building located at 144 S. Bonnie Brae Street in the Los Angeles neighborhood of Koreatown.
"144 S. Bonnie Brae is a wonderful asset that we brought back to life after having fallen into disarray," said Kamyar Shabani, a Principal of Optimus Properties, LLC.
The buyer and seller were represented by Neema Ahadian, Senior Vice President of Investments of the Neema Group of Marcus & Millichap. The closing cap rate was a 4.63 percent and the price-per-square-foot was $330.
Built in 1954, the building features a unit mix of singles, one and two bedroom apartments. Approximately 25 percent of the units have been updated with luxury finishes, including new kitchens with quartz countertops and glass tile backsplash, hardwood laminate floors and walk-in closets.
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.
SOURCE Optimus Properties, LLC