Stephen Melnyk Sells LA 15 Portfolio Multifamily For $37.86M With Broker Paul Darrow

The LA 15 Portfolio consists of multiple multifamily properties located across various streets, including 121 North Avenue 50, 5421 Ash Street, 322 Avenue 52, 120 Avenue 50, 4946 Echo Street, 111 Hamlet Street, 6824 North Figueroa Street, 2233 Merton Avenue, 121-129 North Michigan Avenue, 91106, 5503 Romaine Street, 400 North Normandie Avenue, 2325 Ocean View Avenue, 2533 Ocean View Avenue, and 2126 South Main Street. The total sale price for these properties was $37,860,000, encompassing 335 units with a price per unit of $113,015. The square footage totals 212,825 with a price per square foot of $178. The transaction took place within the Los Angeles and Pasadena markets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $37,860,000
• Seller: Stephen Melnyk
• Broker: Paul Darrow - Walker & Dunlop
• Units: 335
• Price Per Unit: $113,015
• Square Footage: 212,825
• Price Per Square Foot: $178

Walker & Dunlop strategically divested ownership of the properties, which had been held for 50 years, to a wide array of investors in single and cluster formats to maximize proceeds.