Kidder Mathews has arranged the off-market sale of two iconic multifamily properties in Los Angeles’ Los Feliz neighborhood, located at 2028–2030 Rodney Drive and 2040 Rodney Drive. Though sold separately to different buyers, both transactions were negotiated on behalf of the same longtime family owner—marking the end of more than 75 years of multi-generational ownership.
Kidder Mathews Executive Vice President and Managing Director Josh Luchs represented the seller and both buyers, navigating a complex process involving title issues, probate filings, and vacant delivery of the buildings.
“These were two of the most sought-after value-add opportunities in Los Feliz, long held by an owner who was apprehensive to sell,” said Luchs. “Getting these across the finish line required creativity, persistence, patience, and deep market knowledge. It’s a reminder that even off-market transactions demand a strategic and steady hand.”
2028–2030 Rodney Drive, comprising 12 units across two buildings, closed at $4,125,000 with the buyer paying for all closing costs. Delivered nearly vacant—including one building under the Rent Escrow Account Program (REAP)—the property sparked strong competition among local investors. A highly motivated buyer secured the asset with a non-contingent offer and plans to renovate and restore the structures.
2040 Rodney Drive, a 29-unit building designed by famed architect Edward H. Fickett—often referred to as “Architect to the Stars”—closed at $5,100,000 with the buyer paying all closing costs. Known for its sweeping views, the vacant property drew multiple bids before being acquired from an all-cash offer, with no contingencies. The buyer intends to complete a full-scale interior and exterior renovation.
The back-to-back closings represent a major market moment for Los Feliz—highlighting investor demand and signaling continued confidence in value-add opportunities in prime Los Angeles submarkets.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 58 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
