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Optimus Properties Acquires Five-Unit Mixed-Use Building In Los Angeles for $3.5MM – The Registry SoCal Real Estate News

Optimus Properties, LLC purchased 1501 W. Sunset Blvd, a mixed-use building consisting of two retail units and five apartments, located four blocks East of Glendale Blvd. and .6 miles from Dodger Stadium, in the Echo Park area of Los Angeles.

The property was constructed in 1979 and completely renovated in 2021. The retail tenants are Stereoscope Coffee Co. and Gyoza Bar, USA, who is anticipated to open for business in February, 2023. The multifamily unit mix consists of two studios and three one-bedroom, one-bath apartments.

Lorena Tomb and Tye Del Re of Urbanlime Real Estate represented the seller in the transaction.

“The seller of this property purchased it during Covid and wanted to move on to other opportunities, creating a special situational sale of a completely renovated asset in a desirable area”, said Kamyar Shabani, Principal at Optimus Properties, LLC.

Optimus’ strategy for this property is to maintain full occupancy and maximize cash flow.

“We were able to lock in the interest rate prior to recent rate hikes, providing enhanced cash flow at this property while maintaining upside” said K. Joseph Shabani, Principal at Optimus Properties, LLC.

Jesse Liu, Partner & Director of Acquisitions, was the lead contact on the purchase of this property.

Optimus recently hired Jesse to spearhead investment strategy, sourcing new investment opportunities, and expanding capital partner relationships.

Optimus also recently purchased Temple KT Portfolio, a seven building, 91 unit portfolio spread out among the Koreatown and Echo Park neighborhoods of Los Angeles. The Alvarado Collection, a two-building, 65-unit apartment community located in the same vicinity as the Temple KT Portfolio, a 22-unit apartment building located at 2901 4th Street in Santa Monica and a 34 unit apartment building located at 1806 N. Berendo St. Recent sales include 660 S. Cloverdale Ave. and 464 N. Ogden Dr. in the Mid-City area of Los Angeles, and a 44-unit apartment community in Burien, Washington.