Karl Markarian Sells Multifamily Property In West Hollywood For $4.4M

An 11-unit multifamily property located at 1262 N. Sweetzer Ave. in West Hollywood has been sold for $4,400,000. The property spans 10,788 square feet and was sold at a price per square foot of $407. The sale took place on 06/04/2021. The seller's representative in the deal was Karl Markarian from KarloMarkarian. The asking price for the property was $4,895,000, and the sale price achieved was $4,400,000. The transaction resulted in a cap rate of 3%.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $4,400,000
• Date: 06/04/2021
• Address: 1262 N. Sweetzer Ave.
• Market: West Hollywood
• Units: 11
• Price Per Unit: $400,000
• Square Feet: 10,788
• Price Per Square Foot: $407
• Cap Rate: 3%
• Seller's Representative: Karl Markarian from KarloMarkarian
• Asking Price: $4,895,000

Karl Markarian, from KarloMarkarian, represented the seller in this transaction. The sale price achieved was $4,400,000, and the property offers 11 units with a price per unit of $400,000. The property spans a total of 10,788 square feet, resulting in a price per square foot of $407. With a cap rate of 3%, this multifamily property proves to be an attractive investment opportunity in the West Hollywood market.