Decron Properties Buys 163-Unit Los Angeles Apartment Community for $114 Million
Los Angeles, California, USA | September 21, 2026: Decron Properties has acquired a 163-unit mixed-use residential property in Los Angeles' Miracle Mile district for $114 million, adding a sizeable apartment asset to its West Coast portfolio as investors continue to target established locations with limited housing supply and strong rental demand.
The acquisition of 5550 Wilshire values the property at approximately $699,000 per residential unit and marks Decron's first property purchase in nearly two years.
$114 Million Deal Adds 163 Residential Units
5550 Wilshire was acquired for $114 million, translating to roughly $699,000 per unit.
The property was developed in 2010 to luxury condominium specifications and includes a mix of:
- One-bedroom apartments
- Two-bedroom apartments
- Three-bedroom apartments
- Townhomes
The floor plans are approximately 33% larger than the surrounding submarket average, giving the property a positioning advantage in the rental market.
Luxury Amenities Support Rental Positioning
The apartment community includes several high-end amenities designed to support resident demand.
These include:
- Resort-style swimming pool and spa
- Resident lounge
- Private movie theater
- Rooftop skyline lounges
- Parking for 484 vehicles
The parking provision is particularly notable because the property combines residential units with retail space, allowing both components to be served by substantial on-site parking.
Retail Space Adds a Second Income Stream
5550 Wilshire is not purely a residential property.
The development includes approximately 14,700 square feet of ground-floor retail space, which is fully leased to national tenants including:
- Chipotle
- Five Guys
- FedEx Office
The combination of apartment rents and retail leases gives the property a more diversified income profile than a standalone multifamily asset.
For the new owner, the retail component can provide an additional source of rental income while reducing dependence on residential occupancy alone.
Miracle Mile Location Strengthens the Asset
The property is located in Los Angeles' Miracle Mile district, less than a mile from Decron's headquarters.
The area has a Walk Score of 95, reflecting its access to shops, services and transportation.
The property is also within walking distance of the Wilshire/Fairfax station on Metro's D Line extension, connecting residents with major employment and cultural destinations across Los Angeles.
The surrounding Miracle Mile area also includes major museums, retail destinations and more than 5 million square feet of office space.
Why the Deal Matters for Los Angeles Real Estate
Decron said it acquired the property at a substantial discount to replacement cost and with existing income that generates positive leverage from the beginning of ownership.
For multifamily investors, buying an existing income-producing asset can offer a different risk profile from developing a new property, particularly in a market where land, construction and entitlement costs can make new supply expensive.
The transaction also reflects continued investor interest in established Los Angeles neighborhoods where housing supply is constrained and demand remains diversified.
Decron Expands Its West Coast Investment Strategy
The 5550 Wilshire acquisition is Decron's first purchase in almost two years.
The company continues to evaluate opportunities in markets including Phoenix, Salt Lake City and Austin, while maintaining a presence in established West Coast markets such as Los Angeles, San Jose, Orange County, San Diego and Seattle.
Decron's stated strategy focuses on markets where high barriers to entry and limited housing supply can support long-term residential demand.
What Happens Next
With the acquisition completed, Decron will take ownership of the 163-unit property along with its existing residential and retail income streams.
The deal provides the company with an established Los Angeles asset rather than a ground-up development, while the property's location, large apartment layouts, retail tenants and transit access give it several potential avenues for maintaining and creating value over time.