Jennifer Sotelo & Tony Azzi Acquire Multifamily Property In Koreatown For $12.24M

The multifamily property located at 134 North Mariposa Avenue in Koreatown has been sold for $12,240,000. The property consists of 44 units with an average price per unit of $278,182. The total square footage of the property is 35,216, and the price per square foot is $347. The Gross Rent Multiplier (GRM) for the property is 14.18x, and the Capitalization Rate (CAP) is 3.44%.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $12,240,000
• Units: 44
• Price Per Unit: $278,182
• Square Footage: 35,216
• Price Per Square Foot: $347
• Gross Rent Multiplier (GRM): 14.18x
• Capitalization Rate (CAP): 3.44%

The seller of the property was David F. Freeman, and the buyer was represented by Jennifer Sotelo & Tony Azzi. David Leibowitz & Sev Amranyan served as the seller's representatives in the transaction.