Marcus & Millichap has completed the sale of 1203 N. Kings Road, a 30-unit multifamily property located in West Hollywood. The asset changed hands for $7,980,000, reflecting pricing of approximately $266,000 per unit. The transaction centers on a classic value-add play in one of the most supply-constrained rental markets in the Los Angeles area.
The buyer acquired the Kings Road property with a business plan focused on repositioning the community to capture stronger long-term cash flow. According to Marcus & Millichap executives involved in the deal, the asset offers the ability to renovate vacant units and improve day-to-day operations. Those initiatives are expected to enhance performance over time as upgraded units are brought back to market.
Tony Azzi, executive managing director investments, described the offering as a rare chance for an investor to secure a well-located West Hollywood multifamily property at an attractive basis while still retaining meaningful upside. He noted that the combination of existing income with clear operational and renovation levers created a compelling value-add profile for the buyer.
Senior director investments Rabbie Banafsheha emphasized that the property stands to benefit from the broader strength of the local rental market. West Hollywood continues to experience solid demand supported by limited housing supply, which constrains new options for renters, along with high walkability. The neighborhood also offers convenient access to major employment hubs and lifestyle destinations across Los Angeles, factors that reinforce its appeal for residents and investors alike.
The Azzi Group, based in Marcus & Millichap’s Los Angeles office, held the exclusive listing to market 1203 N. Kings Road on behalf of the seller. Azzi and Banafsheha led the marketing effort, positioning the property to highlight both its in-place operations and its renovation potential. The team ultimately secured a buyer whose strategy aligned with the value-add profile of the community.
In addition to Azzi and Banafsheha, The Azzi Group’s Arteen Zahiri and Ian Habbestad participated in the transaction by procuring the buyer. Their involvement underscored the team’s role in both exposing the asset to the investment marketplace and directly connecting it with the acquiring party.
The closing of 1203 N. Kings Road illustrates continued investor interest in well-located, medium-sized multifamily properties in West Hollywood that offer room for operational and physical improvement. With pricing set on a per-unit basis that leaves runway for capital investment, the deal aligns with a strategy focused on capturing rental demand in high-barrier neighborhoods through targeted upgrades and more efficient management.
