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The property includes a 4,400-sf retail component on its ground floor.
A 36-unit complex, at 348 West Chevy Chase Drive, and a 26-unit property, at 1119-1123 East Elk Ave., will undergo a $2.6 million renovation.
The properties are a 13-story building with 283,000 sf at 801 North Brand Blvd. and an eight-story structure with 131,000 sf at 700 North Central Ave.
The buyer secured $52 million in financing from BMO Financial Group for its purchase.
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