George Elias Purchases Glendale Multifamily Asset From Lakshmi DeSilva For $2.74M

The property involved in this transaction is a multifamily asset located at 1004 East Garfield Avenue in Glendale. The transaction closed at a price of $2,740,000, encompassing 8 units and a total square footage of 7,578. The price per unit was $342,500, while the price per square foot was $361.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,740,000
• Buyer: George Elias
• Seller: Lakshmi DeSilva
• Broker: Andy Kawatra - Equity Union Commercial
• Units: 8
• Square Footage: 7,578
• Price Per Unit: $342,500
• Price Per Square Foot: $361

Andy Kawatra represented the sale, which was completed in just 7 days. The transaction attracted multiple offers from qualified buyers, resulting in an all-cash offer. The broker effectively created strong buyer interest and facilitated a fast closing process, demonstrating expertise in positioning the property and connecting with motivated investors.