Jordan Asheghian & Tony Azzi Sell West Hollywood Multifamily Property For $15.5M

The largest multifamily sale in West Hollywood in 2020 was recently closed. The property, located at 1301 N. Havenhurst Dr., was sold off-market during the pandemic. This multifamily asset consists of 40 units, offering a per unit price of $388,000. The total square footage of the property is 35,277, with a price per square foot of $440. The sale price for this transaction was $15,500,000, resulting in a capitalization rate of 3.36% and a gross rent multiplier of 17.21x.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $15,500,000
• Address: 1301 N. Havenhurst Dr.
• Market: West Hollywood
• Number of Units: 40
• Price per Unit: $388,000
• Total Square Footage: 35,277
• Price per Square Foot: $440
• Capitalization Rate: 3.36%
• Gross Rent Multiplier: 17.21x

Representing the buyer and seller in this transaction were Jordan Asheghian and Tony Azzi. Their skill and expertise played a crucial role in the successful completion of this off-market sale, which was non-contingent despite the challenging circumstances posed by the pandemic.