Marcus & Millichap Inc.
08/17/2026 | Press release | Distributed by Public on 08/17/2026 14:19
Marcus & Millichap Brokers $7.98M Sale of 30-Unit Multifamily Property in West Hollywood, California
Press Releases
Marcus & Millichap Brokers $7.98M Sale of 30-Unit Multifamily Property in West Hollywood, California
August 17, 2026
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WEST HOLLYWOOD, Calif., August 17, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1203 N. Kings Road, a 30-unit multifamily property in West Hollywood, California. The property sold for $7.98 million, or $266,000 per unit.
"The property presented the buyer with a rare opportunity to acquire a well-located West Hollywood asset at an attractive basis with significant value-add potential," said Tony Azzi, executive managing director investments. "With opportunities to renovate vacant units and improve operations, the buyer is well positioned to enhance the property's long-term cash flow. West Hollywood continues to benefit from strong rental demand driven by limited housing supply, walkability and access to major employment and lifestyle destinations throughout Los Angeles," added Rabbie Banafsheha, senior director investments.
Azzi and Banafsheha, of The Azzi Group in Marcus & Millichap's Los Angeles office, had the exclusive listing to market the property on behalf of the seller. Azzi, Banafsheha, Arteen Zahiri and Ian Habbestad, also of The Azzi Group, procured the buyer.
Built in 1967, the property is situated on a 0.43-acre parcel at 1203 N. Kings Road in West Hollywood. The 38,570-square-foot apartment community consists of 30 units, including 17 one-bedroom, one-bath units, nine two-bedroom, two-bath units, two three-bedroom, two-bath units and two studio units. Community amenities include on-site laundry and subterranean parking. Located between Santa Monica Boulevard and the Sunset Strip, the property is within walking distance of grocery stores, restaurants, cafes and entertainment venues, and offers convenient access to Hollywood, Beverly Hills, Century City and other major employment centers throughout Los Angeles.
"The property presented the buyer with a rare opportunity to acquire a well-located West Hollywood asset at an attractive basis with significant value-add potential," said Tony Azzi, executive managing director investments. "With opportunities to renovate vacant units and improve operations, the buyer is well positioned to enhance the property's long-term cash flow. West Hollywood continues to benefit from strong rental demand driven by limited housing supply, walkability and access to major employment and lifestyle destinations throughout Los Angeles," added Rabbie Banafsheha, senior director investments.
Azzi and Banafsheha, of The Azzi Group in Marcus & Millichap's Los Angeles office, had the exclusive listing to market the property on behalf of the seller. Azzi, Banafsheha, Arteen Zahiri and Ian Habbestad, also of The Azzi Group, procured the buyer.
Built in 1967, the property is situated on a 0.43-acre parcel at 1203 N. Kings Road in West Hollywood. The 38,570-square-foot apartment community consists of 30 units, including 17 one-bedroom, one-bath units, nine two-bedroom, two-bath units, two three-bedroom, two-bath units and two studio units. Community amenities include on-site laundry and subterranean parking. Located between Santa Monica Boulevard and the Sunset Strip, the property is within walking distance of grocery stores, restaurants, cafes and entertainment venues, and offers convenient access to Hollywood, Beverly Hills, Century City and other major employment centers throughout Los Angeles.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
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