Surapol Mekpongsatorn & Valliya Mekpongsatorn Acquire Mentone Multifamily From University Of Southern California For $1.67M

The multifamily property located at 1354-1356 Jasper Avenue in Mentone has been sold for a price of $1,675,000. The seller, University of Southern California, has successfully closed the transaction with the buyer, Surapol Mekpongsatorn & Valliya Mekpongsatorn. The deal was facilitated by Eric Chen & Blake Torgerson, representing their respective agencies. This property consists of 10 units, with each unit having an average price of $167,500. The total square footage of the property is 8,566, resulting in a price per square foot of $195. The Gross Rent Multiplier (GRM) for this transaction stands at 12.82x, and the Capitalization Rate (CAP) is recorded at 4.61%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,675,000
• Address: 1354-1356 Jasper Avenue
• Market: Mentone
• Seller: University of Southern California
• Buyer: Surapol Mekpongsatorn & Valliya Mekpongsatorn
• Brokers: Eric Chen - Agency, Blake Torgerson - Agency
• Units: 10
• Price per Unit (PPU): $167,500
• Square Footage (SF): 8,566
• Price per Square Foot (PPSF): $195
• Gross Rent Multiplier (GRM): 12.82x
• Capitalization Rate (CAP): 4.61%

Surapol Mekpongsatorn & Valliya Mekpongsatorn are the successful buyers of this multifamily property, which was previously owned by the University of Southern California. The transaction was carried out under the representation of Eric Chen and Blake Torgerson, who acted as brokers in this deal. This sale presents an opportunity for the new owners to enhance their investment portfolio in the Mentone market.