The Mint, a downtown Los Angeles apartment complex, has been sold for $17.5 Million to an unknown local investor.
The eight-story boutique apartment building, which has 42 units, was built in 1923 as an office. In 2016, it underwent a 12-million-dollar renovation, including structural upgrades, seismic retrofitting, upgrades to the elevators, electrical, and plumbing systems, and upgrades of structural components.
Reonomy data shows that the property was owned previously by Tucson-based real estate investing firm Holualoa Cos. which purchased it in 2016 for $17.3 Million.
Kidder Mathews Vice-President Janet Neman, and associate Angelica Gotzev represent both the buyer and seller. Jason Aftalion, of Teva Properties, was an advisor for the seller. He also provided management services.
The Mint is located at 1136 W. Sixth St. and is close to shopping, restaurants, entertainment, hotels, and nightlife.
The Mint was sold before Measure ULA, or the Mansion Tax in L.A., was implemented. Other DTLA property that sold before the deadline include Union Bank Plaza, 445 S. Figueroa St.; The Garfield Building, 403 W. 8th St.; and an office at 801 S. Grand.