Rose Affordable Housing Acquires Multifamily Property In Los Angeles For $223M

The multifamily property located at 1141 North Fairoaks Avenue in Los Angeles has been sold for a total price of $223,000,000. The transaction took place on November 15, 2021. The property consists of 313 units, with an average price per unit of $712,460. It spans a total area of 320,420 square feet, resulting in a price per square foot of $695.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $223,000,000
• Units: 313
• Price per Unit: $712,460
• Square Footage: 320,420
• Price per Square Foot: $695
• Address: 1141 North Fairoaks Avenue, Los Angeles
• Market: Los Angeles

The buyer of the property is Nathan Taft, representing Rose Affordable Housing. The seller is Austin Herzog, who owns Pasadena Villages. The deal was facilitated by the brokers Dean Zander, Stew Weston, Jeff Kunitz, and Mike Canori.