Bob Hart Of TruAmerica Multifamily Acquires Multifamily Asset From Sean Burton Of Cityview For $66.74M

The multifamily asset involved in the transaction is located at 11924 West Washington Boulevard, Los Angeles. The property was acquired for a total of $66,740,000 with 97 units, resulting in a price per unit of $688,041. The property, built in 2020, offers one- to three-bedroom units starting at $3,227/month and is currently 94% occupied. Additionally, it serves as collateral for a $43.38 million loan from Fannie Mae.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $66,740,000
• Buyer: Bob Hart - TruAmerica Multifamily
• Seller: Sean Burton - Cityview
• Broker: Institutional Property Advisors - Marcus & Millichap
• Lender: Fannie Mae
• Units: 97
• Price Per Unit: $688,041

Bob Hart represented TruAmerica Multifamily in the acquisition, while Sean Burton represented Cityview. The transaction was facilitated by brokers from Marcus & Millichap’s Institutional Property Advisors group.