Charles Dunn Company Completes $2.35 Million Sale of Seven-Unit Multifamily Property in West Hollywood


LOS ANGELES, CA – May 3, 2012 – (RealEstateRama) — Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed the $2.35 million sale of a seven-unit apartment property located at 144 North Wetherly Drive in West Hollywood near the major cross street of Beverly Blvd.

Hamid Soroudi of Charles Dunn Company represented the seller, a Los Angeles-based private investor. The buyer, Los Angeles-based KLB Holding Company was represented by Rachel Neuwirth of Nelson Shelton & Associates. The property sold at a cap rate of 4.4 percent.

Built in 1963, the property totals 10,830 square feet and was 100 percent occupied at the close of escrow. The building includes controlled access and an elevator. The units include air conditioning, fireplaces and dishwashers. The property also features a 3,300 square foot 3-bedroom/3.5-bathroom penthouse with three fireplaces, large den, balcony, family room and dining room. The other six units include two, 2-bedroom/1-bathroom units, and four 2-bedroom/2-bathroom units ranging from 800 square feet to 1,200 square feet.

Soroudi leads Charles Dunn Company’s The Soroudi Group. The Soroudi Group is the most successful and active group of brokers involved in selling and exchanging of prime Westside properties. Their marketing program delivers sold properties at more than 98.5 percent of the list prices within a compressed marketing period.

About Charles Dunn Company

Charles Dunn Company is one of the largest full-service regional real estate firms in the Western United States. Established in 1921 and headquartered in Los Angeles, the firm’s brokerage practice continues to be a market leader. The firm also manages more than 20 million square feet of office, industrial, retail, residential and mixed-use properties for third party clients and provides construction management, architecture and design, general contracting and capital markets services. With more than 260 team members in nine offices, Charles Dunn Company’s reach extends far beyond its physical locations, as its experienced professionals leverage their market knowledge, relationships, and expertise to achieve and exceed client expectations.

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