Kiser Group brokers, Jacob Price and Katie LeGrand, successfully closed a $10.9 million off-market deal for the property located at 1553-55 W. Hollywood in Andersonville. This expansive property spans an entire city block and boasts 76 apartments ranging from studios to three-bedroom units, as well as 22 retail spaces.
According to Price, the rental market in Andersonville is primarily made up of vintage properties with limited amenities. However, the new ownership plans to change this by preserving the building’s historic charm while also upgrading unit quality and adding desirable amenities that cater to modern renter preferences.
LeGrand added that although another buyer had previously been under contract for this property, their deal fell through and Kiser Group was quickly notified by ownership about its availability once again. Despite interest from other brokers in the past, Kiser Group was able to represent the buyer and finalize this transaction effectively removing this highly sought-after legacy building from the market.
The article “Kiser Closes $11M Off-Market MF Deal in Andersonville” originally appeared on Connect CRE.
