Landlord Expands Empire
With Deal in Mid-Wilshire

A private investor with more than 4,000 apartment units has added another 100 units to his portfolio.

Don Hunt of Hunt Enterprises has bought the Reno Towers Apartments in the Mid-Wilshire area for $10.3 million.

Reno Towers is a 100-unit , four-story complex located at 307 S. Reno St., near downtown Los Angeles, The complex includes two stories of subterranean parking.

Joe Leon and Ray Eldridge, senior vice presidents at CB Richard Ellis, represented the seller, Reno Tower Partners. The buyer represented himself.

The building was completed in 1990 at the tail end of an L.A. apartment construction boon the likes of which the city may not see again for some time.

“That made it special; new properties are much harder to come by,” Leon said. “The property is basically in pristine condition. You really don’t need to do anything with this one.”

But the buyer may decide to do something, anyway. Hunt, who was not immediately available for comment last week, is an experienced condominium developer. And Leon said it’s possible he may opt to convert the building into condos. The complex has the added benefit that it was built to condominium specifications.