{"id":1004053396,"date":"2012-06-09T13:06:36","date_gmt":"2012-06-09T21:06:36","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=51486"},"modified":"2022-12-04T21:44:35","modified_gmt":"2022-12-05T05:44:35","slug":"investors-take-koreatown-mid-wilshire-apartment-complexes","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/investors-take-koreatown-mid-wilshire-apartment-complexes\/","title":{"rendered":"Investors Take Koreatown, Mid-Wilshire Apartment Complexes"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>Even if blockbuster investment sales\u00a0are relatively rare in Los Angeles these days, a steady stream of small- and mid-size multi-family trades are picking up some of the slack. A pair of properties that recently changed hands in the Wilshire District and Koreatown offer two of the\u00a0latest examples.<\/p>\n<p>Ardmore Court (pictured), an apartment complex located several blocks north of Wilshire Blvd. at 510 South Ardmore Ave., traded for $16.5 million, or $177,500 per unit. Built in 1980<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/ardmore-court.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-51490\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/ardmore-court.jpg\" alt=\"\" width=\"300\" height=\"198\" \/><\/a>, the property underwent an extensive renovation that was completed in 2009. Units\u00a0feature air conditioning, individual gas and electric meters, and kitchens equipped with new stainless steel sinks and dishwashers. Some units also include balconies. Nineteen of the apartments are studios; one-\u00a0 and two-bedroom apartments make up the rest of the complex. The\u00a0complex also\u00a0provides laundry facilities on each floor and 109 underground parking spaces.<\/p>\n<p>In Koreatown, the historic Kipling Hotel, which began life as a hospitality property in 1924, has likewise come under new ownership, rentv.com reported. \u00a0Evergreen Investment Group L.L.C. sold the property to Omninet Kipling L.P., a local investment partnership, for $9.1 million. That translates to about $67,400 for each of the complex\u2019s 135 units, which include 134 studio apartments and a single one-bedroom unit. A restaurant is located at street level. The transaction was arranged by Brent Sprenkle, an associate partner in the West Los Angeles office of Hendricks &amp; Partners Inc.<\/p>\n<p>Photo courtesy o<em>f www.yelp.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor Even if blockbuster investment sales&nbsp;are relatively rare in Los Angeles these days, a steady stream of small- and mid-size multi-family trades are picking up some of the slack. A pair of properties that recently changed hands in the Wilshire District and Koreatown offer two of the&nbsp;latest examples. Ardmore Court (pictured), [&#8230;]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[1815],"class_list":["post-1004053396","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Investors Take Koreatown, Mid-Wilshire Apartment Complexes - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/investors-take-koreatown-mid-wilshire-apartment-complexes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investors Take Koreatown, Mid-Wilshire Apartment Complexes\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor Even if blockbuster investment sales&nbsp;are relatively rare in Los Angeles these days, a steady stream of small- and mid-size multi-family trades are picking up some of the slack. A pair of properties that recently changed hands in the Wilshire District and Koreatown offer two of the&nbsp;latest examples. Ardmore Court (pictured), [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/investors-take-koreatown-mid-wilshire-apartment-complexes\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-06-09T21:06:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T05:44:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/ardmore-court.jpg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investors-take-koreatown-mid-wilshire-apartment-complexes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investors-take-koreatown-mid-wilshire-apartment-complexes\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"Investors Take Koreatown, Mid-Wilshire Apartment Complexes\",\"datePublished\":\"2012-06-09T21:06:36+00:00\",\"dateModified\":\"2022-12-05T05:44:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investors-take-koreatown-mid-wilshire-apartment-complexes\\\/\"},\"wordCount\":246,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investors-take-koreatown-mid-wilshire-apartment-complexes\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/06\\\/ardmore-court.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investors-take-koreatown-mid-wilshire-apartment-complexes\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investors-take-koreatown-mid-wilshire-apartment-complexes\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investors-take-koreatown-mid-wilshire-apartment-complexes\\\/\",\"name\":\"Investors Take Koreatown, Mid-Wilshire Apartment Complexes - 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