John Steinberg Acquires Multifamily Asset In North Hollywood From Kevin Yu For $1.075M

This multifamily asset, located at 12045 Hart Street in North Hollywood, was sold for $1,075,000. The property includes a total of 6 units, spanning 4,666 square feet, and has a price per unit (PPU) of $179,166. The property operates at a capitalization rate (CAP RATE) of 2.38% and a gross rent multiplier (GRM) of 17.80 with a price per square foot (PPSF) of $230.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,075,000
• Buyer: John Steinberg
• Seller: Kevin Yu
• Brokers: Rick Raymundo, Benjamin Savoy & Philip (Phil) Rodgers - Marcus & Millichap
• Units: 6
• Square Footage: 4,666
• Price Per Unit: $179,166
• Price Per Square Foot: $230
• Capitalization Rate: 2.38%
• Gross Rent Multiplier: 17.80

The transaction was brokered by Rick Raymundo, Benjamin Savoy, and Philip (Phil) Rodgers, who represented both parties through the firm Marcus & Millichap. The involvement of these brokers highlights their role in facilitating the smooth process of the sale between the buyer, John Steinberg, and the seller, Kevin Yu.