Shahab Ebrahimian Acquires 12-Unit Multifamily In North Hollywood For $4.13M

Located in North Hollywood, the multifamily property at 10617-10625 Oxnard St. has been sold in a closed transaction. The property consists of two 6-unit buildings on two APNs and generated multiple offers. Built in 1953, this property falls under LA Rent Control and has set a new record for the highest price per unit and highest price per square foot for a rent-controlled 5+ unit property in the 91606 zip code. The sale was closed at $4,130,000 with a per unit price of $344,167 and a per square foot price of $390.47. The property spans 10,577 square feet and has a 4.75% cap rate and a 13.88 GIM.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $4,130,000
• Units: 12
• Price per Unit: $344,166
• Square Footage: 10,577
• Price per Square Foot: $390

The buyer of this property is Shahab Ebrahimian, while the seller is Abbas Shokrai. Representing the buyer is Armin Soleimani from Global Platinum Properties. On the selling side, the LAAA Team from Marcus & Millichap, consisting of Glen Scher, Filip Niculete, Jordan Epstein, and Benjamin Lewin, served as the seller's representatives. This transaction marks a significant achievement in the North Hollywood market and demonstrates the expertise and success of the professionals involved.