Justin Monempour Acquires Multifamily Property On Dorothy St, Brentwood, Los Angeles For $3.7M From Seller Holguin Trust

A multifamily property located at 11748 Dorothy St in Brentwood, Los Angeles has recently been sold for $3,700,000. The property consists of 8 units with a total square footage of 8,489. The sale price per unit was $462,500, and the price per square foot was $436. The transaction took place on May 18, 2021, with Justin Monempour as the buyer and the Holguin Trust as the seller.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,700,000
• Address: 11748 Dorothy St, Brentwood, Los Angeles
• Market: Brentwood, Los Angeles
• Units: 8
• Price per unit: $462,500
• Total Square Footage: 8,489
• Price per square foot: $436

The buyer, Justin Monempour, acquired the property from the seller, Holguin Trust. The sale was facilitated by Dana Coronado from KW Commercial. The property is strategically located near San Vicente and Barrington, making it a prime location in Brentwood. Prior to the sale, the building had 3 vacant units, as well as various tenant issues and deferred maintenance. Additionally, it required costly soft story retrofitting. Dana's marketing efforts led to significant interest in the property, resulting in over 10 offers. The seller ultimately accepted a non-contingent offer and carried a 1st Trust Deed. This arrangement allows the buyer to stabilize the property and refinance it in the future, while the seller continues to receive monthly income without the hassle of management. Dana Coronado represented both the seller and the buyer in this transaction.

If you are interested in future off-market deals or discussing your portfolio, you can contact Dana Coronado at 310-562-9630 or visit her website at www.IncomePropertiesLA.com.