Jamshid Niknam Acquires 8-Unit Multifamily In West LA From Conrad Moller

Located at 1261 Stoner Ave in West Los Angeles, this multifamily property was sold in a closed transaction on December 2, 2021. The property, built in 2019 by Conrad Moller of Dansk Investment Group, Inc, offers 8 units with a total square footage of 11,485. The sale price for this property was $8,990,000, resulting in a price per unit of $1,112,500 and a price per square foot of $774. The Gross Rent Multiplier (GRM) for this transaction was 18.32x, and the Capitalization Rate (CAP) was 3.52%. It is worth noting that this sale achieved the highest price per unit ever recorded in West LA.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,990,000
• Address: 1261 Stoner Ave.
• Market: West Los Angeles

The buyer of this property was Jamshid Niknam, while the seller was Conrad Moller. The deal was facilitated by multiple brokers, including Filip Niculete and Glen Scher from the LAAA Team at Marcus & Millichap, Jenny Eng from CBRE, and Parham Khoshbakhtian from Bruin Capital. Notably, the sale price of $1,112,500 per unit and the price per square foot of $774 contributed to a remarkable transaction that achieved a 3.52% CAP and an 18.32 GRM.

Achieving the highest price per unit ever recorded in West LA, this multifamily property at 1261 Stoner Ave exemplifies a successful investment opportunity in the market. Led by Conrad Moller of Dansk Investment Group, Inc., the construction of this property in 2019 proved to be a lucrative venture.