Los Angeles-based Roka Properties has acquired a 24-unit apartment property in Los Angeles for $20.6 million from a New York-based investor. The seller had renovated 22 of the 24 units.

The property is located at 1425 N Crescent Heights Boulevard. The renovations interior and exterior wall sound-proofing, new doors, windows and sliders, in-unit washer/dryer additions, recessed LED lighting, high-end designer plumbing fixtures, closet built-outs, custom cabinetry and stone slab countertops and backsplash.

CBRE's Dean Zander and Chris Tresp represented the seller, a New York-based investor, in the transaction. The owner had acquired the building in 2015 and decided to sell the asset post-renovation as part of their business plan.

 

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.