LOS ANGELES – October 28, 2016 – Optimus Properties, LLC has completed the acquisition of a 10 unit apartment complex located at 3960 West 8th Street. The building is located on the corner of Gramercy and West 8th Street in Koreatown.
“This is our second purchase in Koreatown in 2016 so far (with our third Koreatown acquisition closing at the end of December) and our tenth acquisition overall this year. We own a fair number of assets in Koreatown and remain committed to the area,” said Kamyar Shabani, a principal of Optimus Properties, LLC.
The Property was built in 1956 and consists of a mix of studios, one and two bedrooms, with covered parking. The Property is located on a corner and displays excellent curb appeal. Optimus intends on renovating the exterior of the building and improving the common areas.
“In addition to our continued involvement in Koreatown, we were drawn to this particular property because of its large unit sizes, available parking and corner location”, 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.