Northmarq brokers $12.6M sale of The Wetherly apartments in prime Los Angeles location

LOS ANGELES — Senior Vice President Steven Goldstein of Northmarq’s Los Angeles office completed the $12.6 million sale of a 36-unit multifamily community located at 142 South Wetherly Drive, nestled between West Hollywood and Beverly Hills.

Goldstein, alongside Jonathan Taksa of RE/MAX and Taksa Investment Group, represented both the seller, a Los Angeles-based private investor and the family of the original developer, and the buyer, a Los Angeles-based private investor.

"The location between Beverly Hills and West Hollywood helped generate significant interest in the opportunity. Also, the property being sold for the first time, and by the family of the original developers, creates a unique opportunity for buyers to purchase a property owned by one family for over 50 years,” Goldstein said. “Mid-sized assets like 142 Wetherly are rarely available in this submarket and given the buyer’s local experience, Wetherly will be repositioned and garner significant intrigue from prospective tenants.”

Built in 1969, this marks the first time the property has traded hands. 142 South Wetherly features spacious floorplans, private balconies and a 39-space subterranean parking structure. Ideally situated at the intersection of West Hollywood and Beverly Hills, the property offers residents access to trendy hotspots, historic restaurants and more.