Jay Lin Acquires Multifamily Property From Jonathan Gerberian For $4.65 Million In Los Angeles

10833 Rose Avenue is a multifamily property located in Los Angeles, featuring 10 units. The asset spans 11,016 square feet and was sold for a transaction amount of $4,650,000, resulting in a price per unit of $465,000 and a price per square foot of $422.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,650,000
• Units: 10
• Square Footage: 11,016
• Price Per Unit: $465,000
• Price Per Square Foot: $422
• Buyer: Jay Lin
• Seller: Jonathan Gerberian
• Buyer's Representatives: Fred Nabati & Michael Davoodpour - Trimax Realty & Loan
• Transaction Date: 11/27/2024
• Market: Los Angeles

Trimax Realty successfully assisted Jay Lin in the transaction by facilitating a 1031 Exchange that allowed him to transition from a $4.5 million single-family home to this $4.65 million multifamily property. This strategic move is noted to significantly enhance returns and mitigate risks through diversified tenants.