The Bascom Group purchased a 117-unit apartment community known as the Grand Lafayette Apartments in Los Angeles.

The value of the transaction was $9.2 million.

The property, which is located at 274 S. La Fayette Park Place, was built in 1972. It consists of one three-story building comprised of studios and one- and two-bedroom apartments with an average size of 663 square feet. Current amenities include a spa, patios/balcony, and gated parking. 

Monarch of the West, a California limited liability company, sold the property to Bascom.

Representing both buyer and seller was Larry Cannizarro of Los Angeles-based Beitler Commercial.

Irvine, Calif.-based Bascom has is an active buyer of multifamily properties throughout California, Hawaii and the Pacific Northwest.

***

What’s your opinion? Send your Letter to the Editor to newsroom@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're here to help. Free 90-day trial for new subscribers.Click Here×