Rosalind J. Schurgin Of Festival Companies Acquires Multifamily Property In West Hollywood For $10.1M

1260 North Hayworth Avenue is a 40-unit multifamily property located in West Hollywood, California. The property was sold for $10.1 million, translating to a price per unit of $252,500. The asset's notable location offers significant potential for growth through renovations, situated close to major thoroughfares such as Sunset Boulevard and Santa Monica Boulevard.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,100,000
• Address: 1260 North Hayworth Avenue
• Market: West Hollywood
• Units: 40
• Price Per Unit: $252,500
• Buyer: Rosalind J. Schurgin - Festival Companies
• Brokers: Anthony Muhlstein, Chris Benton, Gabe Munson, & Kevin Shannon - Newmark

Newmark facilitated the off-market sale, representing the buyer, Festival Companies. Despite the challenges posed by shifting capital markets, Newmark highlighted the multifamily property's advantageous location and the potential for increased returns through planned renovations.