Abe Porat Purchases Mixed-Use Property On Pico Boulevard From George Zinellis For $2M

The property asset involved in this transaction is a mixed-use building located at 5280 West Pico Boulevard in Los Angeles. The sale price was $2,000,000, with a total square footage of 10,053, resulting in a price per square foot of $198. The property features a unique covered land opportunity with C4 zoning, and it is primarily occupied by month-to-month tenants, providing significant flexibility to the new ownership.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $2,000,000
• Square Footage: 10,053
• Price Per Square Foot: $198
• Address: 5280 West Pico Boulevard
• Market: Los Angeles
• Buyer: Abe Porat
• Seller: George Zinellis
• Brokers: Yigal Fatirian & Shaya Lowenstein - Lyon Stahl Investment Real Estate

This transaction was facilitated by Yigal Fatirian and Shaya Lowenstein, who represented the deal. Their strategic positioning of the property led to the successful execution of an off-market transaction that achieved the goals of both parties involved.