LOS ANGELES – April 26, 2016 – Optimus Properties, LLC has completed the acquisition of a 20 unit apartment complex known as the El Rey. The El Rey is a unique apartment building that boasts 1920’s vintage style and character with just the right touch of modern charm. The building is nestled in the heart of trendy Miracle Mile, an area that appeals to artists, writers and filmmakers amongst other aspiring professionals who congregate in this dense urban core. Located at 660 S. Cloverdale Avenue, just steps away from some of the city’s best museums, theaters and restaurants, it offers tenants a peaceful retreat from the bustle of the city.
“The property is incredibly charming, well maintained and well located. We foresee holding this asset in the portfolio for the long term,” said Kamyar Shabani, a principal of Optimus Properties, LLC.
The El Rey was built in 1927 by a stylish visionary intending to create a home for the carefree, trendsetting flappers of the Roaring Twenties. The El Rey was fiercely modern for the times, and today it retains that 1920’s charm and smart contemporary edge, making it the perfect home for LA’s professional Millennials.
“We were particularly drawn to this asset because of its proximity to the expanding metro line along Wilshire Blvd.,” says 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.