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June 14, 1994 | DON LEE, TIMES STAFF WRITER
The ad said a "red tag special," but the 77-unit Studio City apartment hardly looked inviting. A wing of the horseshoe-shaped complex had collapsed as a result of the Northridge earthquake. The rest of the structure was crooked, leaning six inches north, and two swimming pools contained cracked stucco, tattered clothes, broken furniture and glass. But to rehab specialist Ron Bien, it looked like a bargain. Four years ago, the apartment was appraised at $5 million.
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BUSINESS
June 14, 1994 | DON LEE, TIMES STAFF WRITER
The ad said a "red tag special," but the 77-unit Studio City apartment hardly looked inviting. A wing of the horseshoe-shaped complex had collapsed as a result of the Northridge earthquake. The rest of the structure was crooked, leaning six inches north, and two swimming pools contained cracked stucco, tattered clothes, broken furniture and glass. But to rehab specialist Ron Bien, it looked like a bargain. Four years ago, the apartment was appraised at $5 million.
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