Los Angeles Apartment Sells for 33 Percent Less
The $60 million sale of Violet on Virgil reflects wider valuation pressure on older apartment stock in the city.
Updated on Oct. 21, 2026 in Commercial
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Post Investment Group has acquired the 302-unit apartment complex Violet on Virgil for $60 million. This sale, which follows a broader trend of declining commercial property values in Los Angeles, marks a 33.3 percent drop from the asset’s 2018 price.
Why it matters
The sale highlights how increased multifamily construction and higher refinancing rates are putting downward pressure on older apartment assets in Koreatown and Mid-Wilshire. Investors and property owners are seeing significant valuation shifts as the local real estate market adjusts to these current economic conditions.
The 302-unit property sold for $60 million, a 33.3 percent decrease from its 2018 valuation of $90 million. The acquisition was supported by a $47.3 million Freddie Mac loan, reflecting the financing environment in a submarket where cap rates reached 6.7 percent in the first half of 2026.
The players
Post Investment Group
A private investment firm that manages real estate acquisitions and holds apartment assets.
LivCor
A real estate asset management firm that focuses on the multifamily rental sector.
Freddie Mac
A government-sponsored enterprise that provides liquidity and stability to the U.S. housing market by backing multifamily loans.
KeyBank
A national financial institution that provides commercial lending and mortgage originations for real estate developers.
Pacific Urban Investors
An investment firm that specializes in the acquisition and renovation of multifamily apartment communities.
The details
Post Investment Group acquired the two-building complex at 160 S. Virgil Ave. through a combination of capital and debt financing. The sale price reflects a regional cooling trend where developers face competition from newer apartment deliveries that attract renters away from older stock. Owners are increasingly navigating the gap between original purchase prices and current market valuations, often driven by the need to refinance existing debt at higher prevailing rates.
Timeline
1971: The property debuted in Los Angeles.
2018: Violet on Virgil previously sold for $90 million.
2019: Next on Sixth previously sold for $189 million.
H1 2026: Koreatown/Mid-Wilshire cap rates reached 6.7 percent.
June 2026: Pacific Urban Investors purchased Next on Sixth.
Money Landscape
The sale of Violet on Virgil at a 33.3 percent discount follows the pattern set by the $139 million sale of Next on Sixth, which saw a 26.5 percent price drop from its 2019 valuation. These transactions highlight a correction in the Los Angeles multifamily market driven by high supply and refinancing costs.
For households in the Koreatown and Mid-Wilshire areas, this valuation reset may stabilize rent growth as owners contend with increased competition from new inventory. Residents should monitor local rental listings for concessions as older properties work to remain competitive against newer building amenities.
The takeaway
Commercial property valuations in Los Angeles are recalibrating as older buildings face competition from new supply and higher interest costs. Investors and property owners should track cap rate trends in specific submarkets to gauge the impact on future refinancing needs and asset maintenance budgets.
Further reading
For broader trends in local property values, visit our Commercial section.
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