The project, Hollywood Vista Apartments, stands at 1413-1417 N. Vista St. It has 54 rental units.
The buyer is Brentwood Holdings Partners, a locally based private investment group. The property was sold by Hollywood Vista Apartments Ltd., a partnership that also is based in LA.
John Walsh of Marcus & Millichap Real Estate Investment Brokerage Co. represented both parties in the transaction.
Though sales of offices and most other types of income-producing property have slowed in lockstep with the economy, the number of apartment transactions has remained fairly steady. Analysts say the 2002 outlook for the multifamily sector is strong, largely because construction of new units still badly lags demand and few large parcels are available for development.
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