Los Angeles, September 15 --The new owners of nearly 800 apartments located in the Los Angeles area plan extensive renovations to the interior and exteriors of the 1920’s era units.
Pacific Coast Capital Partners LLC and Cypress Equity Investments LLC purchased the portfolios from a variety of corporate and private sellers. The purchase price was not disclosed.
The new owners intend to make significant renovations ranging from $7,000 to $10,00 per unit. The interior work will include restoring existing hardwood floors, installing new appliances, painting, and refinishing countertops and cabinets in bathrooms and kitchens.
