May 4, 2016
Trion Properties has rebranded and repositioned The Eleanor, a 41-unit 1920’s boutique apartment building, investing approximately $4.4 million in the property that is located west of downtown Los Angeles at 412 S. Lake Street.
According to Trion’s Managing Partner Max Sharkansky, the private equity firm has more than tripled the building’s equity since its acquisition in 2013, as it is appraised at north of $9 million. Trion incorporated a vintage art deco style throughout the property’s interior, and replaced all existing systems with modern amenities.
Out of the 1920’s buildings in the MacArthur Park submarket, The Eleanor is fetching the highest rent per-square-foot, and was 100 percent occupied within 30 months.