The complex at 826-840 S. Hobart Blvd. was built in 1929 and was one of scores of once-elegant apartment buildings in the Mid-Wilshire district that deteriorated over the years, broker Albert Shilton of Charles DunnCo. tells GlobeSt.com.
Shilton, who represented the buyer, says the Jaihooni's restored the property to its former splendor through extensive renovations, whichenabled them to rent the mainly single and one-bedroom units for up to $700, compared with about $400 before the renovations.
The property is one of many older buildings in the Mid-Wilshire district that owners have renovated in recent years to meet the strong demand for apartments in Los Angeles.
The sellers were represented by Dunn's Janet Neman.
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