The Hermoyne sells in Los Angeles

Private party unloads asset

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Marcus & Millichap arranged the sale of The Hermoyne apartment building in Los Angeles. The value of the transaction was $12 million. William Graham sold the property to Core Asset Management Group. Built in 1929, The Hermoyne is located at 569 N. Rossmore Ave. The seven-story building is comprised of 70 units and has 75,692 rentable square feet. The building consists of 13 bachelor units ranging in size from 275 square feet to 460 square feet; 23 single units ranging in size from 370 square feet to 725 square feet; 18 one-bedroom/one-bath units ranging in size from 980 square feet to 1,585 square feet; 10 one-bedroom/two-bath units with 1,190 square feet; and six two-bedroom/three-bath units with 1,600 square feet that include a formal dining room and an office or den. The property also includes 24 uncovered gated parking spaces, 32 subterranean parking spaces, a swimming pool and two elevators. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerag...