Marcus & Millichap has completed the sale of The Versailles Apartments, a five-story multifamily property on Burton Way in Los Angeles. Located at 8811 Burton Way, the asset totals 78 residential units and commanded a sale price of $47 million, equating to $602,564 per unit.
The Versailles Apartments was brought to market for the first time in four decades, creating what the brokerage team described as a rare offering along the Burton Way corridor. Tony Azzi and Rabbie Banafsheha of the Azzi Group at Marcus & Millichap represented the seller in the transaction and also procured the buyer.
Azzi noted that the listing generated strong interest from a broad mix of institutional and private capital. According to him, investor competition was intense, and the ultimate buyer was selected based on submitting the most competitive overall terms rather than on price alone.
Banafsheha highlighted the property’s scale and footprint as a key differentiator, emphasizing that The Versailles Apartments occupies an entire city block along Burton Way. He characterized the community as a trophy asset that would be extremely difficult to replicate or assemble under current market and development conditions.
Built in 1989, The Versailles Apartments is positioned between West Hollywood and Beverly Hills, placing residents near one of Los Angeles’s most established employment and entertainment corridors. The property is directly adjacent to Cedars-Sinai Medical Center, reinforcing its proximity to a major healthcare employment hub.
Transportation access is another feature of the location, with nearby connections to State Route 2, Interstate 405, and Metro Rail stations in Culver City and Palms. This connectivity offers residents multiple commuting options across the broader Los Angeles area. While the identities of the buyer and seller were not disclosed, the transaction underscores continued investor focus on well-located multifamily assets in core infill submarkets.
