Mark Barron Purchases 6-Unit Multifamily Property From Gregg Elliott For $2.615M In Los Angeles

The property involved in this transaction is a 6-unit multifamily asset located at 1301 Devon Avenue in Los Angeles. The sale price reached $2,615,000, with the price per unit at $435,833 and the price per square foot at $546. The total square footage of the building is 4,786. Built in 1940, this multifamily dwelling is situated in the Comstock Hills neighborhood of Westwood.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,615,000
• Address: 1301 Devon Avenue, Los Angeles, CA 90024
• Units: 6
• Price Per Unit: $435,833
• Square Footage: 4,786
• Price Per Square Foot: $546
• Buyer's Name: Mark Barron
• Seller's Name: Gregg Elliott
• Buyer’s Representative: Oron Maher - Maher Commercial Realty
• Seller’s Representatives: Gregg Elliott - The Elliott Company / Real Estate Services & Oron Maher - Maher Commercial Realty
• Zoning: [Q]RD1.5-1XL
• TOC Tier: 2

In this transaction, Maher Commercial Realty represented both the buyer, Mark Barron, and the seller, Gregg Elliott. The property was noted for its value-add potential through under-market rents and alley-accessible garages, which could be suitable for ADU conversions. The location is strategically positioned close to amenities such as UCLA, Westfield Century City, and Beverly Hills, indicating potential for long-term rental demand.