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Kipling Residential Hotel

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An apartment building that began life as a hospitality property in 1924.

It came under new ownership in 2012, when Evergreen Investment Group L.L.C. sold the property to Omninet Kipling L.P., a local investment partnership, for $9.1 million. That equals to about $67,400 for each of the complex’s 135 units, which include 134 studio apartments and a single one-bedroom unit. A restaurant is located at street level.

The transaction was arranged by Brent Sprenkle, an associate partner in the West Los Angeles office of Hendricks & Partners Inc.

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