The transaction involves a portfolio of four multifamily properties located at 1337 South Hoover Street, 1922 South Hobart Boulevard, 2622 South Hobart Boulevard, and 1701 Westmoreland Boulevard in the Los Angeles market. The total sale price was $18,448,000 for 128 units, translating to a price per unit of $144,125 and a total square footage of 112,009 with a price per square foot of $165.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,448,000
• Units: 128
• Price Per Unit: $144,125
• Total Square Footage: 112,009
• Price Per Square Foot: $165
• Buyer: Sam Mostadim & Jon Sedaghat
• Seller: Wendy Kaufman & Barry Jacobs
• Broker: Neema Ahadian - Marcus & Millichap
• Date of Transaction: 10/28/2025

The Neema Group of Marcus & Millichap represented the sellers, Wendy Kaufman and Barry Jacobs, in this transaction. The properties had been under the same ownership for over 50 years and were originally developed as HUD buildings. The focus of the marketing efforts targeted value-add and affordable housing buyers, positioning the portfolio as a favorable candidate for a NOAH conversion.