Institutional Property Advisors Brokers 205-Unit Downtown Los Angeles Multifamily Asset Sale
July 15, 2026
LOS ANGELES, July 15, 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 The Flat, a 205-unit multifamily property in the City West neighborhood of Los Angeles, California.
“Constructed in 1968, The Flat’s common areas have been extensively renovated over the past 10 years, giving the buyer both a turnkey opportunity and avenues to increase revenue such as extending the unit interior renovation program to the unrenovated apartments, and capitalizing on demand for furnished, short-term, corporate housing units,” said Kevin Green, IPA executive managing director investments. Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller, and procured the buyer, Winstar Properties. “The property is one of only five 200-plus-unit multifamily assets sold in Downtown Los Angeles in the last 24 months,” added Grabiec.
The Flats’ City West location adjacent to the Financial District, Bunker Hill, and South Park places residents within a 10-minute walk of over 50,000 jobs, and lifestyle amenities such as the Walt Disney Concert Hall, the LA Live entertainment complex, and the FIGat7th and The Bloc shopping malls. The University of Southern California, the Fashion Institute of Design and Merchandising, and Loyola Law School are within a two-mile radius of the property. Interstates 110, 10 and U.S. Route 101 are close by, and the LA Metro’s 7th Street/Metro Center light rail station is within walking distance.
The Flat has a new controlled-access entry system, a modernized resident lounge, upgraded laundry rooms, new windows, and a package receiving system. Renovated apartments have built-in kitchenettes with modern fixtures, new cabinetry, quartz countertops, and new refrigerators. Six of the renovated studio units are furnished.
“Constructed in 1968, The Flat’s common areas have been extensively renovated over the past 10 years, giving the buyer both a turnkey opportunity and avenues to increase revenue such as extending the unit interior renovation program to the unrenovated apartments, and capitalizing on demand for furnished, short-term, corporate housing units,” said Kevin Green, IPA executive managing director investments. Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller, and procured the buyer, Winstar Properties. “The property is one of only five 200-plus-unit multifamily assets sold in Downtown Los Angeles in the last 24 months,” added Grabiec.
The Flats’ City West location adjacent to the Financial District, Bunker Hill, and South Park places residents within a 10-minute walk of over 50,000 jobs, and lifestyle amenities such as the Walt Disney Concert Hall, the LA Live entertainment complex, and the FIGat7th and The Bloc shopping malls. The University of Southern California, the Fashion Institute of Design and Merchandising, and Loyola Law School are within a two-mile radius of the property. Interstates 110, 10 and U.S. Route 101 are close by, and the LA Metro’s 7th Street/Metro Center light rail station is within walking distance.
The Flat has a new controlled-access entry system, a modernized resident lounge, upgraded laundry rooms, new windows, and a package receiving system. Renovated apartments have built-in kitchenettes with modern fixtures, new cabinetry, quartz countertops, and new refrigerators. Six of the renovated studio units are furnished.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.