LOS ANGELES – May 29, 2015 – Optimus Properties, LLC has completed the $5,950,000 million acquisition of a 48 unit apartment complex located at 401 S. Kenmore Avenue in Koreatown.
Built in 1927, this brick building is located in the heart of Koreatown. The building was fairly stabilized, but the new owners plan to do renovate interior units as they become available and upgrade the lobby area while retaining its old world charm. The building is situated on a corner with beautiful views in all directions and is composed of a mix of large studios and one bedroom units.
“We have built a large presence and expertise in Koreatown and look forward to owning this asset on a long term basis.” said Kamyar 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.