Bijan Stein Acquires Multifamily Property In West Hollywood For $5.01M

The multifamily property located at 1215 North Sweetzer Avenue in West Hollywood has been sold in a closed transaction. The property consists of 9 units with a total square footage of 9,184. The sale price was $5,010,000, resulting in a per unit price of $556,667. The price per square foot was $546, and the property's capitalization rate is 5.04%. The gross rent multiplier (GRM) is 13.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5,010,000
• Units: 9
• Price per Unit: $556,667
• Square Footage: 9,184
• Price per Square Foot: $546
• Capitalization Rate: 5.04%
• Gross Rent Multiplier (GRM): 13

The buyer of the property was Bijan Stein, while the seller was Deepak Richard Mehta. The broker representing both the buyer and seller in this transaction was Michael Monempour from Lyon Stahl Investment Real Estate.