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Iconic Investments Sells Koreatown Renovation Opportunity

Iconic Investments Sells Koreatown Renovation Opportunity

Iconic Investments’ Peter Strauss sold Habitat, a 23-unit apartment building at 3333 San Marino St. in Koreatown, for $5.35 million. The sale price equates to $232,608 per unit and $358 per square foot with a pro-forma cap rate of 5.25 percent post renovations. The buyer has the ability to renovate and remodel the entire building