Marcus & Millichap Sells NoHo Arts District Multifamily Property For $3.3M With LAAA Team And Keller Williams As Brokers

Located in the NoHo Arts District, the multifamily property at 10800 Hesby St. has been sold for $3,300,000. The transaction took place on June 29, 2021, and involved a total of 10 units. With a price per unit (PPU) of $330,000, the property spans 9,552 square feet, resulting in a price per square foot (PPSF) of $345. Built in 1963, the property was sold to an all-cash 1031 Exchange buyer despite having deferred maintenance. The prime NoHo Arts location and its attributes make it an attractive investment opportunity.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,300,000
• Market: NoHo Arts District

The sale of the property was facilitated by two broker pairs. Filip Niculete and Glen Scher, part of the LAAA Team at Marcus & Millichap, represented the buyer and/or seller in the transaction. In addition, Jay and Michelle Lieberman from Keller Williams played a key role in the deal. Their expertise and involvement helped ensure the successful completion of the transaction.