Kenny Stevens & Matthew Hoult Facilitate $2.31M Multifamily Sale In Los Angeles

A 12-unit multifamily property located at 1144 Elden Avenue in Los Angeles was recently sold for $2,310,000. The property, built in 1986, is not subject to LA City rent control. With a total square footage of 9,758 and a price per square foot of $237, this asset offers significant rental upside and potential federal capital gains tax incentives. Situated near Koreatown, the property is amidst ongoing multifamily and mixed-use developments.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,310,000
• Units: 12
• Price Per Unit: $192,500
• Square Footage: 9,758
• Price Per Square Foot: $237
• Address: 1144 Elden Avenue, Los Angeles
• Market: Los Angeles

The sale of the 12-unit multifamily property was facilitated by Kenny Stevens from Compass and Matthew Hoult from AKG | Christie's International Real Estate. The property transaction was completed successfully with both brokers playing instrumental roles in the deal.