PRESS RELEASE
August 18, 2022
For Immediate Release:
Investor Jian Torkan was Fast and Furious to Purchase of Famed Movie Location.
LOS ANGELES—The Multi-family Hollywood property 1820 N La Brea Ave, made famous by the hit movie Fast & Furious, is now a big win for Los Angeles real estate developer and investor Jian Torkin. A renter’s favorite, this 10-unit, classic Mid-Century Modern straddles Runyon Canyon.
Torkan and his son Kia Torkan were represented by veteran KW Commercial Los Feliz broker Mason Canter in the $4,550,000 acquisition. Canter also represented the Seller, a long-time client based in Japan. 1820 N La Brea traded as a 4.55 CAP in a submarket where averages are hovering around 3.5 amid increasingly unpredictable challenges such as higher interest rates on commercial notes.
“You can’t beat the location,” Canter said. “It’s prime. Renters love this property because they can literally walk out their front door to hike Runyon Canyon. Rents at this property consistently eclipse submarket averages.”
1820 N La Brea was built in 1955. Meticulously restored by Seller’s Asset Manager Stu Hansen (Shelter Asset Management) this peaceful two-story building is superbly renovated with the latest designer details.
Jian Torkin and his companies’ portfolio contains over 3,000,000 square feet of residential, office, retail, and industrial properties owned and managed throughout California and the southwest.
For additional information:
Mason Canter – President/Senior Broker – The Mason Canter Group – Tel. 310-722-3161. Email. mason@masoncanter.com
