Weingart Center Acquires MultiFamily In Whittier, CA For $25M

An asset located at 10317 Whittier Boulevard in Whittier, CA was recently sold for a price of $25,000,000. The property is a multifamily building consisting of 101 units with an average price per unit of $247,525. The total square footage of the property is 38,000 square feet, resulting in a price per square foot of $658.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $25,000,000
• Units: 101
• Price per Unit: $247,525
• Square Footage: 38,000
• Price per Square Foot: $658

The buyer of the property is Weingart Center, while the seller is Cobby Pourtavosi, representing Capital Insight Holdings. It is worth noting that Capital Insight Holdings acquired the asset in 2018 for $8,000,000 and managed to sell it after a change of use for $25,000,000, resulting in a significant profit of $17,000,000.