Iconic is pleased to announce the sale of St Andrews Apartments in Koreatown. The property sold at $6,235,000 which equates to $283,409 per unit, $333 per square foot and a 16.26 GRM. In addition to the purchase price the buyer was responsible to complete the earthquake retrofit work in excess of $350,000.
Iconic Investments represented the seller and the buyer in the sale of 2261-2269 W. 14th St. in Los Angeles. The property consists of two parcels of land totaling 13,500 square feet on a corner lot.(Orchard Ave and 14th Street) in LA’s Pico Union neighborhood. Each parcel has one single-family residence. All Cash - 30 Day Close of Escrow.
Iconic Investments’ Peter Strauss sold Habitat, a 23-unit apartment building at 3333 San Marino St. in Koreatown, for $5.35 million. The sale price equates to $232,608 per unit and $358 per square foot with a pro-forma cap rate of 5.25 percent post renovations. The buyer has the ability to renovate and remodel the entire building
