Big Moves in K-Town: Iconic Koreatown Apartment ‘Next on Sixth’ Snapped Up by New Investor
Los Angeles real estate is sizzling, and one of the crown jewels of the local rental market just found a new owner. The Koreatown Apartment Next on Sixth, a massive mixed-use residential landmark known for anchoring the neighborhood’s modern vibe, has officially changed hands.
According to real estate analytics firm CoStar, Equity Residential recently sold the sprawling complex located at 620 S. Virgil Ave. The buyer? Northern California-based Pacific Urban Investors. While the exact final price tag remains strictly confidential under wraps, industry insiders are already buzzing. Equity Residential previously acquired the trophy asset back in 2019 for a staggering $189 million, making this transition a massive shakeup for the local market.
One of LA’s Biggest Multifamily Deals of the Year
CoStar has already flagged this transaction as one of the largest apartment sales recorded in the entire Los Angeles area this year. In a market where buyers are incredibly selective, the offloading of the Koreatown Apartment Next on Sixth proves that premium K-Town real estate remains a magnet for institutional capital.
Originally co-developed by Century West and Fifield Companies, the sleek 7-story mid-rise opened its doors in 2017. It boasts 398 luxury units—ranging from trendy studios to spacious one- and two-bedroom apartments—alongside roughly 20,000 square feet of prime ground-floor retail space.
More Than Just Housing: A Neighborhood Anchor
For locals, Koreatown Apartment Next on Sixth isn’t just a place to live; it’s a daily destination. The building famously houses a massive, ultra-convenient Target on its first floor, making it a neighborhood lifeline for everything from groceries to household essentials.
Combined with its upscale amenities, public art installations, and unbeatable central location, the complex has long been regarded as a gold standard for urban living in K-Town. As Pacific Urban Investors takes the reins, the neighborhood will be watching closely to see how this premier property evolves in its next chapter.
