A local investor recently purchased The Mint, an eight-story, 42-unit multifamily property located at 1136 W. 6th St. in downtown Los Angeles for $17.5 million. Kidder Mathews EVP Janet Neman and associate Angelica Gotzev represented the seller, a real estate investment firm managing assets across the U.S and Europe to generate multiple offers before selecting a buyer who closed less than four weeks prior to Initiative Ordinance ULA’s increased property transfer taxes being enacted in LA County . Jason Aftalion of Teva Properties acted as advisor to the seller (Holualoa Cos.).
Neman commented on this rare opportunity for investors: “This was a rare opportunity for an investor to acquire a turnkey, fully renovated boutique apartment community in one of the strongest and most vibrant markets in Los Angeles” Originally constructed as an office building back 1923 , The Mint underwent extensive renovations costing over $12 million dollars 2016 .
