The $9.3 million sales price represents $90,291 per unit and $115 per square foot and a capitalization rate of 7.9%. Monthly rental rates range from $839 to $1,326. Community amenities include a fitness center, a pool and Jacuzzi spa. At the time of the sale, the complex was 97% occupied.

The class B Kingsley Apartment Plaza is located at 333 South Kingsley Dr. in Koreatown, north of Wilshire Blvd. The controlled-access community was constructed in 1985 and encompasses 81,043 rentable sf on .97 acres. The unit mix consists of 79 junior one-bedroom/one-bath units, 10 standard one-bedroom/one-bath units and 14 two-bedroom/two-bath units, ranging in size from 555 to 1,100 sf.

Ronald Harris, a senior associate in Marcus & Millichap's Real Estate Investment Brokerage's Los Angeles office, had the exclusive assignment to market the property for the seller. Richard Ringer, a senior associate in the firm's Los Angeles office, secured and represented the buyer.