StarPoint adds buildings in L.A.’s Koreatown

Investor aims to rehab, reposition apartments

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StarPoint Properties LLC recently purchased two adjacent apartment buildings located at 249 and 269 S. La Fayette Park Place in the Koreatown submarket of Los Angeles for $40.1 million. Hollywood Realty sold the properties, which each have a mix of bachelors, singles, and one- and two-bedroom units for a combined total of 268 units. StarPoint Properties plans to invest in capital improvements that will include interior and exterior upgrades. Existing amenities to the buildings include a pool and spa, laundry room, subterranean parking and leasing office. The company plans to add a fitness center, business center, barbecue area and a roof deck. ...