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# Brief: Apartments sell for $6M
- URL: https://www.smdp.com/brief-apartments-sell-for-6m/
- Published: 2014-02-28T03:59:51.000Z
- Updated: 2024-12-03T21:31:01.000Z
- Author: Kevin Herrera
- Tags: Business, Real Estate & Housing, #wp, #wp-post, #Import 2025-11-06 13:37

A 20-unit apartment complex located just north of Wilshire Boulevard has sold for $6 million.

The multi-family complex, which includes two, three-bedroom/two-bathroom units; 12, two-bedroom/one-bathroom units; and six, one-bedroom/one-bathroom units, is located at 1027-1033 20th St., said Kimberly Roberts Stepp, senior managing director with Charles Dunn Company, who represented the seller, Santa Monica-based Eisen, LLC, as well as the buyer, Los Angeles-based 1027 ENA, LLC.

The transaction closed at a 3.7 percent cap rate.

The building was constructed in 1956.

Stepp said this property offered the buyer excellent upside potential as the rents were 67 percent below market rates.