Hollywood apartments fetch highest per-unit price in neighborhood in years

A Hollywood apartment property just traded hands for the highest per-unit price in the neighborhood in years.  Sophia Hollywood, a 28-unit Class A property at 1759 North Gower Street, sold for $16 million, Colliers, which brokered the deal on behalf of the private seller, announced in a press release. The buyer’s identity for the 40,332-square-foot multifamily community was not disclosed.  The per-unit price works out to nearly $571,500 for each residence, which Colliers said is the highest per-unit price in Hollywood in more than three years. The sale serves as another sign of increasing investor confidence in Los Angeles multifamily […]This article originally appeared on The Real Deal. Click here to read the full story.