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Los Angeles Apartment Sale Tops $1.5 Million Per Unit Despite Headwinds

Luxury Utama Royale Property were bought in Westwood by Private Buyer

The 18-unit luxury Utama Royale apartments at 10351 Wilshire Blvd. features a lounge club along with a fitness center and spa. (CoStar)
The 18-unit luxury Utama Royale apartments at 10351 Wilshire Blvd. features a lounge club along with a fitness center and spa. (CoStar)

A luxury apartment property notched what may be the highest sales price of its kind in more than a year in the city of Los Angeles despite a backdrop of economic headwinds, including higher interest rates and a new transfer tax that's curtailed demand for commercial real estate.

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