LOS ANGELES – October 7, 2016 – Optimus Properties, LLC has completed the acquisition of an 8 unit apartment complex located at 1114 and 1116 N. Gardner Street. The building is located in the heart of West Hollywood, between Fountain Avenue and Santa Monica Blvd. The property consists of two 1 bedroom units and 6 two bedroom units and comes with six units vacant.
“We have been purchasing properties in West Hollywood for many years and we are pleased to be able to acquire another great asset” said Kamyar Shabani, a principal of Optimus Properties, LLC.
Optimus intends on renovating the exterior of the building, improving the common areas and the six vacant units.
“What drew us to this property was the fact that we could institute our renovation model immediately given the number of vacancies at closing. In addition, the property has very good bones and lends itself to the types of renovations we like to do”, said K. Joseph Shabani, a principal of Optimus Properties, LLC.
Optimus Properties, LLC, located in Los Angeles, California, was founded by Kamyar Shabani and K. Joseph Shabani and employs a disciplined investment approach focused on value creation in multifamily properties throughout Los Angeles.