Ann Labe Acquires 8-Unit Multifamily In West Hollywood For $2.25M

The 8-unit multifamily property located at 1146 North Formosa Avenue in West Hollywood was sold for $2,250,000. The property spans 6,856 square feet, resulting in a price per unit of $281,250 and a price per square foot of $328. The transaction took place on 06/17/2024 with Lee Mintz from Compass representing the buyer, Ann Labe, and Jake Glaser from Lyon Stahl Investment Real Estate representing the seller, Dana Waldhorn.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,250,000
• Units: 8
• Square Footage: 6,856
• Price per Unit: $281,250
• Price per Square Foot: $328
• Market: West Hollywood

The Glaser Group, led by Jake Glaser, represented the seller in the deal. The transaction was completed with an all-cash purchase and a 30-day escrow period, resulting in a 3.96% Cap Rate and a 15.25 Gross Rent Multiplier (GRM).