7/1/2008

StarPoint sells multi-family to NF Hawaiian Gardens LP

by Eric Ramsden

737 S. Kingsley Dr.

NF Hawaiian Gardens LP has purchased an 83-unit multi-family dwelling in Los Angeles, Calif., from StarPoint Properties, LLC for $17.3 million.

The building is located in Koreatown at 737 S. Kingsley Dr. StarPoint invested $1 million over a 22-month renovation period, which included upgrading a majority of the units with granite countertops and travertine floors.

"We saw an opportunity to reposition this complex into a Class A property by repositioning it to cater to young professionals looking for the urban experience that is now available in Koreatown," said Paul Daneshrad, CEO of StarPoint Properties.

Address: 737 S. Kingsley Dr., Los Angeles, Calif.

Size: 83 units

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Filed Under: Multi-Family

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